Catenaa, Sunday, March 09, 2025-Trading volume on Solana-based platform Pump.fun has plummeted 94% from its January peak, signaling a broader decline in the memecoin craze.
Daily volumes have dropped from $3 billion in January to roughly $170 million, reflecting waning trader interest and a slowdown in new token graduations. The platform’s token graduation rate—measuring the percentage of tokens reaching a $100,000 market cap—has declined from 1.85% to 0.83% weekly.
The sharp decline follows months of intense speculation, with traders now growing wary of rug pulls, influencer-driven hype, and insider manipulation in the memecoin space. Market fatigue has set in, leading to diminished confidence and lower engagement.
Despite the downturn, Pump.fun has generated $570 million in revenue since launching in January 2024, underscoring its significant impact on the Solana memecoin ecosystem. Few crypto platforms have achieved such rapid financial success.
In response to shifting market conditions, Pump.fun is adapting. The platform recently launched a mobile app and is teasing an upcoming native automated market maker (AMM), suggesting efforts to maintain relevance beyond speculative mania.
As memecoin momentum slows, industry watchers are monitoring whether Pump.fun can sustain its growth or if its success remains tied to peak market speculation.
