Pump.fun, the Solana-based meme coin launchpad that dominated token creation in early 2024, has suffered a revenue collapse, with daily income dipping below $300,000, a level seen only twice in the past ten months, both in September 2024, according to DefiLlama data.
Despite accounting for 90% of new token launches on Solana earlier in 2025, Pump.fun has lost its grip. Daily revenue was $533,410 on July 6, a 92% drop from the January peak of $7 million. This is a big drop for the meme coin launchpad’s dominance.
Reputation Damaged by Chaos, Scams, and Livestream Backlash
Pump.fun’s earlier success was marred by controversy. In November 2024, the platform reportedly disabled its livestream feature after users performed or threatened real harm including suicide attempts to hype token launches. Revenue fell from $33.8 million in one week to $11.3 million the next; a 66% drop. Though it’s been a while now, the brand hasn’t recovered. The livestream feature was quietly brought back in April however, trust wasn’t restored.
A pseudonymous partner at Arete Capital has been blasting institutional token sales that drained secondary market demand, leaving retail traders with oversupply and losses. Reports shared that 97% of Pump.fun meme coins lost over 90% of their peak value within months of launch, which is platform-wide failure.
Governance Chaos and Platform Risk Add to Earnings Decline
Beyond revenue numbers, Pump.fun has legal and ethical issues. A class-action lawsuit was filed in early 2025 alleging the platform is an unregistered securities exchange and allows mass pump-and-dump viral schemes through its meme token factory model.
Reports allegedly found one co-founder was involved in rug pulls at age 16; raising red flags about governance and token integrity. As meme coin sentiment turns sour, sources reported widespread retail losses and celebrity scandals. What once drove massive inflows now looks like regulatory risk and investor fatigue.
Platform Innovation Stalls as Momentum Fades
Pump.fun launched PumpSwap, its own decentralized exchange, in early 2025 to diversify revenue. But even with PumpSwap trading over $3 billion, daily revenue hasn’t exceeded $1 million since March.
Users are still creating tens of thousands of tokens per day but graduation rates and active engagement have plummeted as there’s no upside for token creators or platform operators.
Many users now view memecoin launchpads as extractive tools that amplify scams and regulatory exposure.
Chainalysis and machine learning research on pump‑and‑dump detection confirm these social-driven token launches are riskier, with investors often losing big and having little on-chain defense.
Conclusion
Based on the latest research, the Solana based meme coin launchpad, Pump.fun’s revenue collapse is a major decline from what was once an unstoppable meme coin machine. With daily income down 92% from its peak, experts say Pump.fun’s dominance seems to be fading.
Controversial livestream behavior, platform abuse and legal exposure have eroded user confidence and revenue. Unless Pump.fun reforms governance, rebuilds trust and differentiates itself, its future is uncertain. In a meme coin market that’s getting more cautious, Pump.fun’s relevance is on the line.
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Summary
Pump.fun, Solana’s meme coin launchpad has seen its revenue drop to under $300,000 per day, a 92% decline from earlier in 2025. Once controlling 90% of token launches on the chain, The decline follows livestream controversies, rug-pull scandals and a class-action lawsuit alleging securities violations.
FAQs
What caused Pump.fun’s revenue collapse?
A combination of livestream scandals, suppressed trust in token launches and growing competition led to a collapse in trading and launch revenue.
How bad is the decline?
Revenue is down 92% from its viral peak in January, now averaging under $300,000 daily.
Are most Pump.fun tokens profitable?
Recent data shows 97% of tokens launched on Pump.fun have lost over 90% of their value.
What are the platform’s biggest risks now?
Pump.fun is facing a class-action lawsuit, governance questions, stagnant innovation and shrinking user trust; all in an increasingly regulatory environment.
Glossary
Memecoin launchpad – Platform to mint and list meme tokens.
Graduation rate – % of tokens launched that reach market cap to list on DEXs.
Pump‑and‑dump – Coordinated price manipulation followed by mass sell-offs, often leaving retail investors in the red.
Livestream controversy – Pump.fun’s user-generated live streams that caused the features to be disabled.
Sources
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