PumpFun Token Launches Drop 80%

Activity on memecoin launchpad PumpFun is slowing tremendously as the market grapples with tumultuous price action and massive rug pulls.

On March 3, PumpFun launched 11,000 tokens, which is a far cry from the all-time high of 70,000 launched on Jan 23. However, the figure is still up significantly from Summer 2024, when between 4000 and 7000 tokens launched daily. 

Despite over 11,000 tokens being launched on March 3, only 7200 addresses created tokens. In total, more than 8 million tokens have been launched on PumpFun and traded by 14 million active addresses since the protocol launched on Solana in March 2024.

The memecoin market has been anemic since the LIBRA rugpull in February.

Some of PumpFun’s most successful tokens, such as GOAT, FARTCOIN, and FWOG, are all down between 85% and 95% from their all-time highs, and new token launches have gone poorly.

The only successful memecoin over the last few weeks has been PWEASE, a JD Vance themed memecoin which rallied as high as a $33 million valuation before retracing. The token has struggled to find its footing since its initial price surge, and currently changes hands at a $14 million market capitalization.