In the dusty corners of the digital frontier, where dreams of riches once danced like fireflies, Pump.fun finds itself in a bit of a pickle. Its revenue has plummeted to a 4-month low, a sad tale spun from the fraying threads of its token graduation rate.
According to the wise sages at DefiLlama, Pump.fun’s protocol fee revenue now sits at a meager $791,500 as of March 17, a staggering 94% drop from the dizzying heights of $15.38 million back on January 25. It’s like watching a once-mighty oak tree wither to a mere twig, marking its lowest single-day value since the chill of November.
But wait, there’s more! The memecoin frenzy that once had the masses frolicking in the fields of fortune has cooled off, much like a forgotten pot of coffee. The graduation rate—the number of memecoins that manage to waltz their way to Solana (SOL) decentralized exchanges—has taken a nosedive. According to the oracle known as Dune Analytics, this rate now languishes at a paltry 0.98%, down from a more respectable 1.62% on January 20. It’s been stuck below 1% for a month, like a stubborn mule refusing to budge since February 17. The decline in Pump.fun’s revenue, coupled with its memecoin graduation rate, suggests that folks are losing interest in Solana memecoins faster than a cat in a room full of rocking chairs.
As if that weren’t enough, the wise folks at Matrixport have pointed out that the bursting of the memecoin bubble after its January peak has contributed to a $1 trillion decline in the total crypto market cap—from a lofty $3.6 trillion down to a mere $2.6 trillion. This is likely due to the recent high-profile pump-and-dump schemes, including the infamous LIBRA memecoin debacle involving the Argentinian president, as well as Trump’s tokens TRUMP and MELANIA. Talk about a circus!
In a desperate bid to revive its fortunes, Pump.fun has recently rolled out a mobile app and teased plans for an automatic market maker, aiming to facilitate native trading and boost liquidity. Will it be enough to breathe life back into this ailing giant? Only time will tell, but for now, it seems Pump.fun is in a bit of a jam. 🍯
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2025-03-17 13:46