Crisis Pump.fun on Solana: revenues plummet by 80%

Pump.fun, the reference platform for memecoins on Solana, experienced one of the worst contractions ever in July 2025, generating only 24.96 million dollars in revenue compared to over 130 million at the peak recorded in January.

Why has Pump.fun’s revenue dropped so drastically?

The DefiLlama data reveals a continuous decline in the revenues of Pump.fun throughout 2025: from 90 million in February, to 37 million in March, down to about 40 million monthly in the following months and the current low in July.

This descending parabola indicates a sharp decline in interest towards the memecoin sector, contrary to the exploits of late 2024 and early 2025, when the performances seemed unstoppable. The peak of revenues and volumes is now distant: the scenario has changed precipitously in a few months.

What is the real extent of the memecoin crash on Solana?

In July 2025, the trading volume of memecoins marked a spectacular decline: according to the data, the drop was 67% compared to the highs of July. The total capitalization of the memecoin sector had reached 85 billion dollars on July 23, with a daily volume of 17.22 billion; but the surge was short-lived, as the global capitalization quickly fell to 65 billion dollars (-23.5%) and the volume contracted to just 5.59 billion (-67%).

The situation on Solana perfectly reflects the global trend: the launchpads for memecoin highlight declines in minting and trading activity.

What happens now on Pump.fun? Focus on users, volumes, and new tokens

At the peak of the boom, at the beginning of July 2025, Pump.fun had recorded 346,000 active traders and a volume of 348 million dollars in a single day: record numbers for the Solana segment.

However, the latest statistics show that, in less than a month, active traders have dropped to 129,000 and volumes have fallen to 150 million dollars. This represents a cut of 62% and 56% respectively compared to recent peaks: an unprecedented trend reversal for the platform.

Another signal of the market cooling comes from Solscan data: on Saturday, only 34,040 SPL tokens were created on Solana, the lowest in three months. This data confirms the lack of new projects and the caution of users.

How does the competition move? The LetsBonk case

In the landscape of memecoin launchpads on Solana, LetsBonk also records significant variations. Daily traders have increased by 25%, a figure that might seem positive. Yet, the overall transaction volume has dropped by almost 10% compared to the highest levels reached in July.

What are the causes of the cooling of memecoins?

The run of memecoins had been fueled by social hype, FOMO (fear of missing out), and by a growing attention from the crypto community, also favored by the ease of creating new tokens through platforms like Pump.fun.

In the span of a few weeks, however, the trend became saturated: many meme coins experienced rapid pump & dump, leaving traders more cautious and less inclined to invest fresh capital.

Another factor is the growing interest in other segments of DeFi and new technological developments, which may have drained resources and attention from the memecoin sector.

What to expect now? Prospects and risks for traders and holders

The umpteenth collapse in revenues of Pump.fun and memecoin volumes on Solana requires reflection from the entire community. Speculative enthusiasm seems to be in a descending phase, at least in the short term. On these platforms, the risks of volatility and scams remain high.

However, the moments of slowdown are often followed by innovations or unexpected new trends. The recent history of the crypto markets teaches us this: it is difficult to predict when (and if) the memecoin sector will start to run again.

The future depends on many variables, including new use cases, evolution of protocols, and regulations. By closely following data and communities, one can catch signals of recovery or further declines. Stay connected to understand if it is a temporary pause or a structural signal for memecoins on Solana.