Data: Pump.fun Activity Drops 80% in Three Months

Odaily Odaily reports that Pump.fun, the once-dominant Memecoin launch platform on Solana, continues to see deteriorating activity, with token graduation rates, platform revenue, and Solana network fees all experiencing significant declines in recent months.

Data shows that Pump.fun's seven-day average token graduation rate fell to 0.26% last week, a drop of 80% over the past three months. Meanwhile, the platform's average daily revenue since June stands at approximately $800,000, far below the average daily level of around $4.8 million seen six months ago.

Entering June, Pump.fun's revenue decreased by 25% month-over-month, while the token graduation rate fell by 53% month-over-month. This discrepancy suggests that the platform may still be generating some dollar-denominated revenue through auxiliary income streams like PumpSwap AMM trading fees and sponsored listings, but its core function—the ability to propel newly issued tokens to higher market capitalization stages—has significantly weakened.

The decline of Pump.fun is also reflected in the price of the PUMP token, which has fallen approximately 40% over the past six months. At the same time, trader interest is shifting from launching Memecoins on the Solana chain to other trading scenarios like perpetual contracts, further suppressing Solana network fees.