Odaily Planet Daily reports: Pump.fun, once the dominant memecoin launch platform on Solana, has seen持续 deterioration in activity, with notable declines in token graduation rates, platform revenue, and Solana network fees over the past few months.
Data shows that Pump.fun’s seven-day average token graduation rate dropped to 0.26% last week, an 80% decline over the past three months. Meanwhile, the platform’s average daily revenue from June to today is approximately $800,000, far below the daily average of about $4.8 million six months ago.
Entering June, Pump.fun's revenue declined by 25% month-over-month, while the token graduation rate dropped by 53% month-over-month. This discrepancy suggests that the platform may still be generating some dollar revenue through auxiliary income sources such as PumpSwap AMM trading fees and sponsored listings, but its core capability—propelling newly issued tokens to higher market capitalization stages—has significantly weakened.
The decline of Pump.fun is also reflected in the price of the PUMP token, which has fallen approximately 40% over the past six months. Meanwhile, trader interest is shifting away from meme coin launches on Solana toward other trading venues such as perpetual contracts, further reducing Solana network fees.