Pump.fun Revenue Crashes to 2025 Low as Memecoin Momentum Fades

Solana’s most infamous memecoin launchpad is losing steam. After fueling one of the wildest retail frenzies earlier this year, Pump.fun has now posted its worst-performing month of 2025, and it’s not just the platform that’s slowing down.

• Pump.fun revenue dropped to $24.96M in July – down 80% from its $130M peak in January.
• Memecoin market cap fell from $85B to $65B in just weeks.
• Daily token mints on Solana hit their lowest in 3 months.
• Trader activity and volume are both down sharply on top platforms.
  

Solana-based memecoin platform Pump.fun generated just $24.96 million in July – its lowest monthly revenue of 2025, according to data from DefiLlama. That’s a dramatic 80% drop from its January peak of over $130 million, capping off a months-long decline that now mirrors the broader memecoin sector’s downturn.

The fall wasn’t sudden. Revenue slipped to $90 million in February, then to $37 million in March. From April through June, earnings hovered around $40 million before sinking further in July. It’s the clearest sign yet that interest in rapid-fire token launches is drying up, at least for now.

Zooming out, the memecoin sector looked red-hot again in late July, hitting a high of $85 billion in market cap and $17.2 billion in 24-hour trading volume, according to CoinMarketCap. But the hype couldn’t hold. By early August, the total memecoin valuation had slumped to $65 billion, and daily volume collapsed by more than 67%, down to just $5.59 billion.

That fading interest has also hit Solana, the chain where most memecoin launches originate. Solscan reported just 34,040 new SPL tokens minted on a recent Saturday – the lowest daily total in three months. That’s a sharp signal that fewer users are willing to gamble on launching the next $DOG or $WIF.

The activity drop extends beyond token creation. Pump.fun, which hit a daily record of 346,000 traders and $348 million in volume on July 9, is now seeing just 129,000 daily traders and $150 million in volume – a 62% and 56% drop, respectively. Even rival platform LetsBonk, which saw a surprising 25% increase in users over the same period, still experienced a 10% decline in volume.

What It Means for Web3 Investors

This isn’t just a blip. The memecoin sector, once the face of on-chain speculation, is clearly in cooldown mode. Retail momentum has slowed, trading activity is down, and even new launches are becoming rarer by the day.

For investors, this could be a sign to recalibrate. Either the memecoin market is consolidating before the next frenzy… or it’s signaling a shift in attention toward other corners of the crypto economy.

In any case, the memecoin cycle has taken a breather, and the next wave, if it comes, will be one to watch closely.