It could be to dismiss Meme Coins as just another trend. It’s a market full of traps and fraud that undoubtedly encourages the worst aspects of the cryptocurrency industry. but, Solana Token Launchpad pump.fun Proven memecoin is a big business, and the already-generated business is no joke.
Currently, amid slowing revenues and growing competition with rival Launpad, the issues are: Is it a sustainable business?
Pump.Fun recently raised $600 million from a massive sale of pump tokens. ICO It reminds me of the 2017 trend. The company is in charge of the release of Almost 12 million tokens– Personal cryptocurrency purchased and sold with degrees around the world. In doing so, the company generated more than $774 million in revenue within two years. This is a number that rivals the entire network and infrastructure providers, which are key components of the entire on-chain economy.
“Pump.Fun is one of the most used apps in cryptography history.” Adam Tehcsaid data analysts and creators of Dune Dashboard. Decryption. However, interest in the platform has declined recently, TEHC said. And the data supports his views.
In January, the best month of Pump.Fun’s Meme Coin Mania, Launchpad generated revenue of $136,743,809. According to the past month Sand Dunesthe platform has raised just $26,390,173 in revenue. This is an 80% decrease.
Still, the pump of lifetime numbers. Hun’s pride is undoubtedly impressive. Perhaps it’s more impressive given its humble roots.
Pump.Fun: How did it begin?
project It started as an idea Between three cipher degrees that we wanted to make token creation easier. At the time, co-founders Alon Cohen, Dylan Kerler and Noah Tweedale were working remotely from their laptops.
Within a few months, they began hiring employees. Senior developers who have become fraudulent– And then I started working in Wework in London. Now Cohen said DecryptionPump.Fun has over 70 employees in the United States, Europe, the Middle East and Asia.
“There are no strict boundaries around teams, but we position our employees based on areas of expertise, such as mobile, live streaming, chat, and infrastructure,” he explained. “No one is much bigger than the other teams. If necessary, shift members from multiple teams and focus on prioritizing a single product.”
Through its 18-month lifespan, Pump.Fun won the title The fastest Crypto app is making $100 million in revenue It has since generated more than $774 million. Dune data. Cohen refused to go into details on how much of this is considered profit, but added that “the overwhelming majority of funds are being reinvested directly into product development.”
dmitry lapidus, head of apac coinfundI said Decryption This kind of money has put Pump in the top 5-10 biggest crypto projects in terms of current revenue. There’s something like that beyond that Tether, Round, Ethereumand Solana itself – core infrastructure components that have not only been around for a much longer period of time, but also provide tools for projects like Pump.fun.
pump.fun: How does that go?
pump.fun allows anyone to create tokens in minutes, if not seconds. It started in January 2024, and soon A go-to place for all of meme coins. Eventually, A startup that wanted its own token brought it to the platform Live stream It started to explode with the pump –Sometimes literally.
The cultural and economic relevance it has earned is that it was able to raise $600 million in ICOs in just 12 minutes. Pump tokens have skyrocketed Top 65 cryptocurrencies by market capitalization At startup, however it fell to 84th.
The pump rose above $6 billion, but fell to $4.2 billion on Monday. It exceeds ICO prices. Tokens are currently down almost 20% over the past seven days per Coingecko.
The initial interest in pump tokens may have been partially spurred by several repurchases from the platform. TEHC. Degens believes this is the launch of a platform that shares revenue with token holders. As long as the platform’s use and revenue continues to grow, it’s an attractive proposition. But what about that?
“There hasn’t been the same hunger recently at Pump.Fun Tokens,” TEHC said.
Throughout his life, Pump.Fun has been responsible for creating approximately 11.9 million tokens. To put that into perspective, Etherscan Only 1.6 million can be found ERC-20 token Ethereum. At its peak in January, Pump.Fun created 70,576 in a day. However, according to TEHC Sand Dunes Dashboard, this figure has since dropped to 10,000-15,000 per day.
The drop will look like this LetsbonkRival Launchpad led by the community behind it Bonk Meme Coin stole a significant market share from Pump.Fun. 14 out of the last 15 days, Sand DunesLetsbonk is responsible for most of the launch of Meme Coin at Solana. In April, Pump.Fun was responsible for almost 100% of all LaunchPad activities on the network.
Forecast Market Developed by Myriad DecryptionThe sentiment between parent companies Dastan, Pump and Bonk Crypto traders is reflected in the markets that attack coins one another. Countless users are currently strongly supportive of Bonk, which has a market capitalization greater than Pump by the end of July. It may have seemed like the pump could turn Bonk upside down shortly after the Pump.Fun token was launched and the hype peaked, but now the coin is separated by a market capitalization of over $1 billion, with Bonk leading the way.
“It’s pretty clear that the same thing we saw something kind of NFT It’s so exploited from the cycle, where it starts as this authentic market,” TEHC said. Decryption, If you want to refer to Pump. “There are more advanced tools. There are more trading bots. More and more people are creating all sorts of token creation bots, sniper bots and more,” he said. “That’s natural.”
Pump.Fun actually created the entire economy of the tools beneath it. “Bump botFor example, it will be displayed regularly on the pump.fun homepage to quickly buy and sell selected tokens. Of course, there is a more ominous aspect to an underground economy filled with lag pull tools, bundle bots and more.
TEHC claims that traders’ interest in the platform has declined as a result, with degrees looking for a platform with more organic trading behaviors to invest. He says this is most common through the drop in graduation rates for pump.fun from 1.67% in November to 0.58% in May.
“Graduation” refers to when the token hits a predefined market capitalization of currently $66,000 and is tradeable on pump.fun. Distributed Exchange Pumpswap. By graduating, 206,900,000 graduation tokens 85 SOL will be placed in the PumpSWAP liquidity pool, allowing for smoother trading.
“In general, an increase in graduation rates means hunger for trench,” TEHC explained. “And when it’s the lowest, that’s when the trench is the most exhausting,” he said. “Now, for example, we see a slightly higher graduation rate on the Bonk Launch Pad. I think this means I’m hungry to buy Bonk tokens rather than pump tokens.”
Cohen, founder of Pump.Fun, believes that Meme Coins naturally hover a graduation rate of 1%.
“In the Memocoin world, and in the collectibles market more widely, it’s really ~1% that matters. Decryption. “The market mechanisms are the same, whether it’s meme coins, trading cards, or social media posts. The magic lies in the market’s ability to identify and assign value to the most important things.”
The skill in Meme Coin Trading is to choose the highest percentile of successful projects as fleeting as successful.
Top traders at Pump.Fun as tracked in TEHC dunes Dashboardachieving profits of over $41 million, with a total of 151 wallets earning more than $1 million. However, please note that this dashboard only records pre-graduation purchases and many transactions take place after graduation. Anyway, the Data Wizard warns that most of these “top traders” are even real people.
“On the most profitable pages, I think the top 50 wallets are 49 bots and one capsy,” he said. Capsy. “There are a lot of deployers. There are sniper bots, volume bots (…), but mostly snipers.”
Next time it’s a 10x hit and it feels like they made it. Remember:
Capsy spent $3,000,000 just to land the deal.
This is the top 0.1% portfolio with just trading fees. pic.twitter.com/3xlihe9sit
– Adam (@adam_tehc) July 18, 2025
According to TEHC, one of the most profitable strategies is to launch a token with pump.fun and break it within minutes or seconds. For example, one trader I bagged $840,000 for just three Spam 17,000 tokens and have time to sell supply within a few months – seconds.
This strategy will be more profitable with the introduction of creator revenue sharing, providing token deployers with reduced trading fees related to coins. 1 token creator has won $93,780 in 3 weeks After the feature is implemented.
“We operate completely on a chain, but the data you see is the same as what we saw,” Cohen said. “You have a real-time view of who we are, how we operate, how we play. That’s the beauty of life in the chain.”
However, he warned that he would focus solely on data, especially within the company.
“The data is great, but UX means everything,” Cohen said. “We need to build products that users enjoy and create value. The fun and value are reflected in the data,” he said. “That’s how the data is the secondary driver.”
