Pump.fun, a memecoin launchpad on Solana, has experienced a significant decline in revenue, dropping to $24.96 million in July 2025 from its peak of $130-137 million in January. This marks an 80-82% decrease in just a few months, with a steady decline in revenue throughout the year.
The platform’s daily figures have also taken a hit, with revenue plummeting to $293k on July 28th, a stark contrast to the $7 million+ daily highs seen in January. Additionally, the volume has decreased from $348 million to $150 million by early August, indicating a decline in user engagement.
Even Pump, the native token of Pump.fun, has not been immune to the downturn. After launching at $0.006, it is now trading around $0.003, showing a 50% decrease within a month. This downward trend in revenue and token value raises questions about the future of Pump.fun in the ever-changing cryptocurrency market.
The memecoin sector as a whole has been contracting, with a total market cap drop from $85 billion to $65 billion and a significant decrease in 24-hour trading volume. Pump.fun is not only facing challenges from the overall market downturn but also losing market share to competitors like LetsBonk, whose dominance in Solana token launches has surged to 80%.
Legal scrutiny is also adding to Pump.fun’s woes, with a class-action lawsuit filed in January 2025 accusing the platform of enabling “pump-and-dump” schemes through token launches and unregistered tokens. With memecoin hype fading, competitors gaining ground, and legal troubles mounting, Pump.fun is facing an uphill battle to regain its footing in the market.
In conclusion, the sharp decline in revenue and market share for Pump.fun raises concerns about its future viability. The platform will need to strategize and innovate to attract users, overcome legal challenges, and stay relevant in a rapidly evolving cryptocurrency landscape.