Pump.fun experiences a notable decline in meme token activity, with significant drops in token launches and revenue amid shifting trader interests.
Activity on the meme coin platform Pump.fun has sharply declined, with key indicators showing a significant drop since August. This downturn includes a steep fall in token launches and revenue.
Data from Dune analytics reveals that the percentage of new assets closing the curve has fallen to just 0.16% in June, a stark decrease from over 2% at the height of activity in March.
Moreover, the daily number of coins being launched has dropped by 30% compared to figures from earlier this year. In terms of revenue, Pump.fun's daily earnings have plummeted from $2 million in January to around $800,000.
Daily trading volumes on the platform have similarly declined, decreasing from $400 million at the start of the year to approximately $100 million currently. This reduction in trading activity has also led to lower fees for token creators.
The platform's native token, PUMP, has faced challenges as well, suffering an 80% decline from its peak shortly after its launch in September 2025.
This downturn in Pump.fun is indicative of a broader disinterest in meme tokens, with the total market capitalization of this segment having dropped by nearly $8 billion over the last month.
Analysts suggest that the stagnation in the meme token sector is due to a shift in trader focus toward perpetual futures, with platforms like Hyperliquid offering more stable alternatives.
For context, trading volume for the perpetual contract linked to SpaceX reached an impressive $1.4 billion on Hyperliquid on June 12, coinciding with the company's public offering.
