Memecoin Launchpad Sees Drastic Revenue Decline

Solana-based memecoin platform Pump.fun recorded its lowest monthly revenue of 2025 in July, generating just 【$24.96 million】—an 80% drop from January's peak of $130 million. Data from DefiLlama shows a steady decline throughout the year, with February revenue at $90 million and March at $37 million before stabilizing around $40 million for three consecutive months.

Broader Memecoin Market Loses Momentum

The platform's struggles reflect a wider cooling in the memecoin sector. While the market briefly surged in July—reaching 【$85 billion】 in capitalization and 【$17.22 billion】 in daily trading volume—it quickly retreated to $65 billion valuation and $5.59 billion volume by August. ——This volatility suggests speculative interest is waning—— after months of intense activity.

Solana Token Creation Hits Three-Month Low

Solscan data reveals only 【34,040】 new SPL tokens were minted on August 3, marking the lowest daily count in three months. The decline correlates with reduced activity on major Solana launchpads—Pump.fun saw 62% fewer daily traders and 56% less volume compared to July peaks, while competitor LetsBonk maintained trader numbers but saw 10% volume decrease.

What's Behind the Sudden Cool-Off?

Analysts point to multiple factors: waning retail investor interest, shifting market focus toward utility tokens, and potential platform fatigue. Interestingly, the downturn follows a period where memecoins were considered bullish—a reversal that caught many traders off guard. The data suggests the speculative frenzy surrounding meme-based assets may be entering a consolidation phase.

Industry Implications and Future Outlook

——This correction could lead to healthier market dynamics—— by filtering out low-quality projects. However, platforms like Pump.fun face significant challenges in adapting their business models. With revenue at 2025 lows and no immediate recovery signs, the coming months will test whether memecoin infrastructure can sustain prolonged downturns or require fundamental reinvention.