Bitcoin
Bitcoin (BTC)
$81,986.00 -2.44959
Bitcoin price
Ethereum
Ethereum (ETH)
$1,910.08 -1.55777
Ethereum price
BNB
BNB (BNB)
$628.34 0.57849
BNB price
Solana
Solana (SOL)
$124.46 -3.2795
Solana price
XRP
XRP (XRP)
$2.26 -3.6705
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -4.66267
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000069 -6.82842
Pepe price
Bonk
Bonk (BONK)
$0.0000105 -5.47195
Bonk price
dogwifhat
dogwifhat (WIF)
$0.465088 -7.37435
dogwifhat price
Popcat
Popcat (POPCAT)
$0.186489 -6.72872
Popcat price
Bitcoin
Bitcoin (BTC)
$81,986.00 -2.44959
Bitcoin price
Ethereum
Ethereum (ETH)
$1,910.08 -1.55777
Ethereum price
BNB
BNB (BNB)
$628.34 0.57849
BNB price
Solana
Solana (SOL)
$124.46 -3.2795
Solana price
XRP
XRP (XRP)
$2.26 -3.6705
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -4.66267
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000069 -6.82842
Pepe price
Bonk
Bonk (BONK)
$0.0000105 -5.47195
Bonk price
dogwifhat
dogwifhat (WIF)
$0.465088 -7.37435
dogwifhat price
Popcat
Popcat (POPCAT)
$0.186489 -6.72872
Popcat price
Bitcoin
Bitcoin (BTC)
$81,986.00 -2.44959
Bitcoin price
Ethereum
Ethereum (ETH)
$1,910.08 -1.55777
Ethereum price
BNB
BNB (BNB)
$628.34 0.57849
BNB price
Solana
Solana (SOL)
$124.46 -3.2795
Solana price
XRP
XRP (XRP)
$2.26 -3.6705
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -4.66267
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000069 -6.82842
Pepe price
Bonk
Bonk (BONK)
$0.0000105 -5.47195
Bonk price
dogwifhat
dogwifhat (WIF)
$0.465088 -7.37435
dogwifhat price
Popcat
Popcat (POPCAT)
$0.186489 -6.72872
Popcat price
Bitcoin
Bitcoin (BTC)
$81,986.00 -2.44959
Bitcoin price
Ethereum
Ethereum (ETH)
$1,910.08 -1.55777
Ethereum price
BNB
BNB (BNB)
$628.34 0.57849
BNB price
Solana
Solana (SOL)
$124.46 -3.2795
Solana price
XRP
XRP (XRP)
$2.26 -3.6705
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -4.66267
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000069 -6.82842
Pepe price
Bonk
Bonk (BONK)
$0.0000105 -5.47195
Bonk price
dogwifhat
dogwifhat (WIF)
$0.465088 -7.37435
dogwifhat price
Popcat
Popcat (POPCAT)
$0.186489 -6.72872
Popcat price

Pump.fun volume dropped 63% in February amid high-profile memecoin scams

Ankish Jain
Edited by
News
Pump.fun volume dropped 63% in February amid high-profile memecoin scams

Trading volume on Pump.fun, a leading Solana-based token launchpad, plunged 63% in February following a string of high-profile memecoin scams that have eroded investor confidence. 

Pump.fun volume dropped from $119 billion in January to $44 billion in February, the lowest since October 2024, according to data from a Dune Analytics dashboard. Pump.fun’s new token launches have also drastically decreased, going from 58,000 each day at the beginning of February to 24,000 by Mar. 4.

Pump.fun volume dropped 63% in February amid high-profile memecoin scams - 1
Pump.fun monthly volume. Credit: Dune Analytics

Furthermore, the platform’s token graduation rate has decreased from 1.85% to 0.83% per week, meaning that fewer tokens are reaching the $100,000 market valuation required to be listed on Raydium.

Despite February’s trading volume being the lowest since October 2024, It generated $74 million in revenue over the past 30 days. The platform’s total fees have reached $580 million and 8.2 million tokens launched to date.

Among other high profile memecoin scandals like TRUMP and MELANIA, the LIBRA memecoin scandal was a major turning point. In mid-February, Argentine President Javier Milei endorsed LIBRA memecoin, causing a price surge before a sudden crash wiped out over $120 million, leading to accusations of a rug pull.

The incident damaged trust in memecoins, accelerating the market downturn. Pump.fun has been trying to improve its features to draw in more developers and traders. Along with recently releasing a mobile app, the platform has teased plans for a native automated market maker.

An AMM is a decentralized trading system that makes use of liquidity pools in place of conventional order books. Integrating an AMM could help Pump.fun facilitate token trading natively and boost liquidity.

Despite the challenges faced by Pump.fun, Solana’s (SOL) decentralized exchanges continue to dominate. According to DeFiLlama data, Solana topped DEX trade for the fifth straight month, surpassing Ethereum (ETH) by 24% to reach $109 billion. Raydium (RAY), Meteora, and Orca continue to drive liquidity, maintaining Solana’s DeFi ecosystem despite memecoin losses.