Pump.fun, a Solana-based memecoin platform, reported a significant decline in revenue for July 2025, reaching just $24.96 million—down 80% from its January peak of over $130 million. This sharp drop comes as interest in memecoins continues to wane, with revenues decreasing from $90 million in February to $37 million in March, and fluctuating around $40 million for several months before plummeting in July. The broader memecoin market also showed signs of decline, with its market capitalization dropping from a high of $85 billion to $65 billion, and 24-hour trading volume decreasing by 67%. Additionally, new token creation on the Solana network significantly slowed, with only 34,040 tokens minted on August 2, marking a three-month low. Trading activity on major memecoin platforms like Pump.fun and LetsBonk also fell, with notable reductions in trader counts and trading volumes reported.

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