TechFlow reported on June 17, citing The Block, that activity on Pump.fun, a leading Solana-based memecoin launchpad, has continued to deteriorate. The platform’s seven-day average token graduation rate has fallen to 0.26%, representing a decline of roughly 80% compared with three months earlier. The sharp drop in this metric points to a substantial cooling in the platform’s recent usage and token-launch activity.
Pump.fun revenue drops more than 83% from its peak
The revenue data shows a similar contraction. Pump.fun’s average daily revenue in June was only about $800,000, compared with a peak of around $4.8 million six months earlier. That marks a decline of more than 83%. On a month-over-month basis, the platform’s June revenue was down 25%. For a platform closely associated with Solana’s memecoin activity, the fall in revenue has moved in line with the drop in user activity.
Solana daily fee revenue falls to about 5,300 SOL
The slowdown has also weighed on the Solana network’s fee income. According to the reported figures, Solana’s average daily fee revenue in June was only about 5,300 SOL, far below the 33,000 SOL recorded in January. This indicates that the reduction in activity linked to Pump.fun and the broader memecoin segment has also been reflected at the network fee level.
Analysts cited in the report said that a large amount of capital that was previously active in Solana’s memecoin sector has moved to perpetual futures trading on platforms such as Hyperliquid. At the same time, the PUMP token has recorded a cumulative decline of 40% over the past six months. Taken together, the data on platform activity, revenue, Solana fee income and token performance outlines the recent cooling of Pump.fun’s business momentum.