Pump․fun Meme Coin Launches Collapsed To 0.82%
The Pump․fun platform has recorded an unprecedented drop in the weekly graduation rate of meme coins – for the first time, it fell below 1%, reaching 0.82%.
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The graduation rate determines what percentage of tokens become available for trading on the open market. To do so, they must meet liquidity and trading volume requirements.
The current decline in this indicator reflects a sharp drop in investor interest in new projects, because just a month ago it was 1.4%, which was considered quite a high value, given the unlimited opportunities for the creation of tokens.
Meme Coins Have Simply Become Uninteresting
The token trading on the Pump․fun platform has always been accompanied by a high level of risk, so very few meme coins reached the necessary requirements after their creation. For example, the maximum record was set in November 2024, when the issuance rate was 1.67%, which was due to a surge of launches – 323,000 new tokens appeared in just one week, of which around 5,400 made it to the open market.
However, this has changed in recent weeks, with around 1,500 tokens now entering the market per week. This reflects not only a decline in users creating their own tokens, but also a general cooling of investor interest in meme coins. While previously meme coins were perceived as very lucrative “lottery tickets”, now more and more market participants realize that the chances of success here are roughly lottery-like as well.
Even meme tokens associated with famous personalities have been affected by the decline in demand. For example, the official memecoin of US President Donald Trump has lost 84% of its value from its January peak. This proves that even big names and huge PR cannot guarantee the success of a project if it is not backed by sufficient liquidity, utility and a loyal community.
Related: Anti-Memecoin Law: Democrats Push to Ban TRUMP and MELANIA
Pump․fun Is Losing Weight
Amid the falling output level, Pump․fun is also losing money. While its daily revenue was $3 million in January 2025, it has now dropped by more than 90% to $150,000 per day. The number of tokens issued has also decreased by a factor of 10, and trading volumes have decreased by a factor of 4 (though still at an impressive $800 million per week). If this negative trend continues, the platform could face a financial crisis due to an exodus of active users and liquidity.
Memcoin Market Outlook
The situation around Pump․fun reflects broader trends in the crypto market. Analysts note that the decline in interest in meme coins was one of the factors that led to a $1 trillion drop in the total capitalization of the cryptocurrency market. Despite the weakening dollar and some improvement in liquidity, demand for such tokens continues to be low.
The main problem is called the mismatch between reality and expectations, as well as a large number of projects. The overabundance of low-quality tokens that have no value overloads the market and provokes massive capital losses of speculative investors who want to get a quick profit.
Read also: Pump.fun's Meme Coin Frenzy: How It Became a $500M Crypto Powerhouse
In the future, if the meme coin industry continues at its current scale, developers and specialized platforms will have to adapt to the new environment to learn how to ensure the long-term stability of their projects.
In the case of memes, this challenge could be a big problem.
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