According to Dune Analytics data, trading volume for Pump.Fun, the Solana Ecosystem’s token launch pad, fell 63% from January to February 2025. This decline comes as Memecoin faces scrutiny of Mount amid a string of scandals.
In total, the platform’s trading volume fell from $119 billion to $44 billion in the first two months of 2025, marking $2.1 billion in trading activity over the past four days.
As reported by Cointelegraph, the new token list for Pump.Fun is also down. After seeing a high of around 1,200 tokens per day on January 24th, that number fell below 300 per day in early March.
Pump.Fun’s February trading volume is the lowest since October 2024, but it is the company’s fourth highest since its launch in January 2024.
In a comment to the Cointelegraph, Pump.Fun co-founder Alon Cohen attributes the slowdown in activity to the overall economic downturn in Crypto Market. “As the market falls, Altcoins and Memecoins trade down, slowing down activities through Crypto (including Pump.Fun).
Pump.Fun’s revenues have reached nearly $74 million over the past 30 days, according to Dune Analytics.
It weakened my enthusiasm for memokine
This current meta of Crypto Bull Run, MemeCoin Trading slid amidst the horrors of insider trading, lag pull and fraud.
The famous incident amplified these concerns. One such incident was the so-called “Libragate.” There, the tokens launched by the now-growing group, including Hayden Davis, were gaining popularity after receiving support from Argentine President Javier Mairi. The token has become what many are calling a $107 million rag pull, with 86% of investors losing more than $1,000.
Related: Top Memo Coin Scams to Avoid in February 2025
“Memokines have evolved from a community-driven social experiment to a chaotic landscape dominated by value extraction from retail investors,” Anastasija Plotnikova, co-founder and CEO of blockchain regulator Fideum, told Cointelegraph.
According to Plotnikova, “Insider Ring, Pump and Dump Schemes and Sniper Groups replace the organic, collectible nature of the original memokine, creating an unhealthy arena.”
Memecoins is attracting the attention of the US Securities and Exchange Commission. In a statement on February 27, the SEC confirmed that Memecoins is not a securities, but noted that the fraud is still being policed.
magazine: X-Hole of Frame: After Memokine dies, defi rises again: Sashaivanov
