Pump Fun activity on Solana is in free fall as the memecoin mania appears to be cooling off.
In a recent tweet, on-chain analyst Darky noted that the number of coins bonding had reached near zero, signaling the end of the Pump Fun era.
Nooman.eth, General Partner of 227Fund, also detailed a drop in graduating token numbers from 24,008 last month to 11,332 this month, 2,184 last week, 517 this week, and 186 yesterday. He added that daily token launches have fallen, with overall weekly trading volume now matching levels last seen in September 2024.
The data from these tweets comes after a period when token launches numbered in the tens of thousands.
The decline in bonding activity and token creation suggests that interest in the platform has waned, a development that is affecting liquidity and market participation in Solana. The reduced transaction volumes may signal a broader cooling in the memecoin sector amid a wider market retracement.
The memecoin sector is up around 2% today, down around 14% over the past 7 days. Over the last 30 days, the biggest losses were seen in TRUMP, down 52%; MELANIA, down 62%; WIF, down 54%; and FARTCOIN, down 67%. The only 30-day gainers in the top 10 are Dogecoin, up 37%, and PEPE, up 2%. By comparison, over the same period Bitcoin is down 15%.
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