Pump.fun Revenue Plummets 80% – Memecoin Meltdown or Just a Market Correction?

Memecoins took another gut punch this week as Pump.fun—once the darling of degenerate yield farmers—reported an 80% revenue crash. Is this the canary in the coal mine for speculative crypto assets, or just another Tuesday in Web3?

Behind the numbers: While some point to fading hype cycles, others see a market finally shaking out weak hands. 'Turns out dog-themed tokens aren’t a sustainable retirement plan,' quipped one pseudonymous trader, sipping their third espresso of the morning.

The bigger picture: Even with the drop, memecoin volumes still outpace traditional penny stocks—proving crypto’s unmatched talent for turning vapor into 'valuation.' Whether this is capitulation or consolidation depends entirely on which Twitter thread you’re doomscrolling.

• Pump.fun’s July revenue of $24.96M, an 80% decline, indicates a slowdown in the memecoin market.
• The memecoin market cap drops 23.5% from July’s high, now at $65B, with trading volume down 67%.
• Solana’s token minting hits a 3-month low, reflecting reduced demand in the memecoin sector.

Pump.fun is a Solana-aggregated memecoin network that announced a significant decrease in monthly revenue in July to $24.96 million. This is over 80% down on the January high of more than $130 million. The large decline in revenue is an indication that the memecoin market is slowing down following a period of blistering expansion.

According to the DeFi analytic tool DefiLlama, the revenue generated by Pump.fun has declined in a constant manner over the past year. The platform earned $90 million in February, and in March, it generated $37 million. The next three months had revenues of about the same $40 million. However, July 2025 numbers were the lowest, suggesting a broader decline in memecoin activity.

Source: DefiLlama

Pump.fun Faces 80% Drop as Memecoin Market Slows

The meme coin market itself was experiencing a cooling-down moment after a small upswing in July. As of July 23, according to CoinMarketCap, the market capitalization was 85 billion dollars, and trading volume was 17.22 billion dollars in 24 hours. But the market went flat soon. Market capitalization decreased by 23.5% to $65 billion by early August. The volume of trades also slumped by 67% to $5.59 billion.

Solana, the leader of the blockchain behind major memecoin players like Pump.fun, also saw the downturn in the mint of new tokens. On Aug. 2, Solscan indicated that there were only 34,040 solana Program Library (SPL) tokens that were minted. The fact that it was the lowest daily mint in the previous three months suggests that there is less demand for newly added tokens to the network.

Source: Solscan

Memecoin Market Declines in August

Daily trading on Pump.fun was indicative of the downfall of the memecoin market. On July 9, the platform registered 346,000 traders and a daily volume of $348 million. By August 4, however, the number of traders on the platform had declined by 62% to 129,000, and its daily trading volume was lowered by 56% to $150 million.

A competitor memecoin platform, LetsBonk, experienced a 25% rise in daily traders to 260,000. Nevertheless, LetsBonk experienced a slight decrease in the daily trading volume as it dropped to $453 million, which is about 10%.

A cooling-down period is also implied by the sharp decline in Solana-based memecoin platforms’ earnings and trading volume. The market is currently experiencing low trading volume and decreased interest due to its overgrowth. It is not clear yet that such platforms as Pump.fun will be able to overcome such decline.