Pump.fun Revenue Crashes 80%—Memecoin Mania Fizzles to 2025 Low

Memecoin trading isn't what it used to be—and Pump.fun's balance sheet is bleeding out. Revenue just nosedived 80% year-to-date, hitting its lowest point since the platform launched. Here's why the party's over.

The hype cycle bites back

Remember when every degenerate with a MetaMask wallet thought they'd strike gold with the next dog-themed shitcoin? Those days are gone. Trading volumes evaporated faster than a shitcoin dev's credibility after a rug pull.

Platforms like Pump.fun rode the speculative wave—now they're drowning in the undertow. No amount of 'wen moon' memes can revive this corpse. Even the most delusional bagholders are finally admitting: the memecoin gold rush was just fools' gold all along.

Bonus jab: Wall Street analysts—who still don't understand blockchain but love slapping 'Web3' on PowerPoints—are calling this 'natural market consolidation.' Sure, Jan.

TLDR

• Pump.fun revenue dropped to $24.96 million in July, down 80% from January’s $130 million peak
• Memecoin sector market cap fell 23.5% to $65 billion while trading volume crashed 67% to $5.59 billion
• Daily traders on Pump.fun declined 62% to 129,000 while trading volume dropped 56% to $150 million
• New Solana token creation hit three-month low with only 34,040 SPL tokens minted on August 2
• LetsBonk saw trader count rise 25% but volume dropped 10%, indicating smaller trade sizes

Solana memecoin launchpad Pump.fun experienced its worst month of 2025 in July, generating just $24.96 million in revenue according to DeFiLlama data. This marks an 80% decline from the platform’s January peak of over $130 million.

The revenue drop follows a steady downward trend throughout 2025. February saw revenues of $90 million, which then plunged to $37 million in March.

The platform maintained around $40 million in monthly revenue from April through June. July’s figure represents the first time revenues fell below this level.

The decline reflects broader weakness in the memecoin sector. Trading volumes and market capitalizations have dropped across all major platforms.

Memecoin Market Capitalization Falls $20 Billion

The memecoin sector reached peak performance in July with $85 billion in total market capitalization. Daily trading volume hit $17.22 billion on July 23 according to CoinMarketCap data.

This bullish momentum proved short-lived. Current memecoin market cap sits at $65 billion, representing a 23.5% decline from July’s peak.

Daily trading volume collapsed even more dramatically. Current 24-hour volume stands at $5.59 billion, down 67% from the July 23 record.

Solana network activity has also declined. New token creation dropped to three-month lows in early August.

Solscan data shows only 34,040 solana Program Library tokens were minted on August 2. This represents the lowest daily count in three months.

The reduced token creation suggests less speculative activity. Fewer new projects are launching compared to earlier in the year.

Platform Trading Metrics Show Sharp Declines

Pump.fun set daily records on July 9 with 346,000 traders and $348 million in volume. These figures marked the platform’s peak performance for user engagement.

Current metrics show the extent of the decline. As of August 5, daily traders dropped to 129,000, representing a 62% decrease.

Trading volume fell to $150 million, down 56% from the July peak. Both metrics indicate reduced retail participation in memecoin trading.

Competitor platform LetsBonk recorded 208,000 traders and $503 million volume on July 9. Current data shows mixed results for the platform.

LetsBonk now has 260,000 daily traders, up 25% from July. However, trading volume decreased to $453 million, down nearly 10%.

The increase in traders but decrease in volume suggests smaller average trade sizes. This pattern indicates more cautious trading behavior among users.

Jupiter aggregator data confirms these trends across Solana memecoin platforms. Most launchpads are experiencing reduced activity compared to summer peaks.

Platform operators have not announced changes to fee structures or token launch requirements. The declines appear driven by market conditions rather than platform modifications.

Data from August 5 shows Pump.fun maintaining its position as the leading Solana memecoin launchpad despite the revenue decline.