The Solana-based memecoin launchpad Pump.fun recorded its lowest monthly revenue of 2025 in July, signaling a steep decline in interest across the memecoin creation space.
Memecoin platform revenue drops 80% from January peak
According to analytics data, Pump.fun generated just $24.96 million in July, a dramatic fall from its January peak of over $130 million—an 80% drop in under seven months. The platform’s earnings gradually declined through the year, falling to $90 million in February, $37 million in March, and hovering around $40 million until July’s low.
This downward trend highlights a clear loss of momentum in the memecoin market, which had briefly shown signs of resurgence earlier in the summer.
Memecoin trading volume and market cap fall sharply
While memecoins rallied briefly in mid-July, the momentum did not last. On July 23, total market capitalization reached $85 billion with a 24-hour trading volume of $17.22 billion. But by the end of the month, market cap dropped to $65 billion, and trading volume fell to just $5.59 billion—a 67% decline from its peak.
Solana network sees fewer new tokens in August
Solana, home to most memecoin launchpads, also witnessed reduced activity in early August. On August 2, just over 34,000 new SPL tokens were minted, marking the lowest daily mint count in the past three months, according to blockchain data.
Fewer new token launches often indicate fading developer and investor interest, compounding the drop in trading activity on leading platforms.
Trading activity on Pump.fun and competitors declines
Pump.fun, which had reached a daily high of 346,000 traders and $348 million in volume on July 9, recorded only 129,000 traders and $150 million in volume by early August. This represents a 62% drop in users and a 56% fall in volume.
While LetsBonk, another Solana memecoin platform, saw its daily user count rise to 260,000, its trading volume also fell by nearly 10%, indicating mixed sentiment across the space.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.