Pump.fun revenue slide runs a second week with a 10% drop

The Pump.fun revenue slide ran into a second week on Friday. Pump.fun ($PUMP) earned $7.4 million in revenue over the latest seven days, per DefiLlama data read at 2:46 p.m. ET, down 10% from $8.3 million the week before.

The quick take

Price: $PUMP traded at $0.003946 at 2:40 p.m. ET, down 0.8% in 24 hours, per CoinGecko.
Trigger: Seven-day revenue fell for a second week in a row, to $7.4 million, per DefiLlama.
Watch: Whether daily revenue holds near $1 million after the latest reading of $981,000.

What happened

Pump.fun is the memecoin launch platform on Solana ($SOL). It keeps a share of the fees traders pay. DefiLlama tracks that share as revenue.

Two weeks ago, seven-day revenue stood at $9.9 million. It then fell to $8.3 million and now sits at $7.4 million. That is a drop of about 25% in two weeks.

The latest 24-hour reading came to $981,000. The reading before it was $1.23 million, so the newest day was 20% lower. Total fees paid by users, which DefiLlama counts on a separate line, were $1.39 million in the latest 24 hours and $10.6 million over seven days. By that split, Pump.fun kept about 70% of the week’s fees as revenue.

The 30-day picture is steadier. Pump.fun earned $39.2 million over the latest 30 days, about 1.7% more than in the 30 days before, by DefiLlama’s daily figures. The lowest daily reading of the past 60 days was about $721,000, so the newest day is not a fresh low.

Why it moved

Pump.fun has not given a reason for the smaller take, and the data alone does not show one. The cause is not confirmed.

The wider market offered little help. Bitcoin ($BTC) traded at $75,754 at 2:41 p.m. ET, down 0.4% in 24 hours, per LiveCoinWatch. $SOL was at $89.98, up 0.6%, per CoinGecko. Trading across Solana’s decentralized exchanges came to $2.2 billion in DefiLlama’s latest 24-hour reading at 2:41 p.m. ET.

Money parked on PumpSwap, Pump.fun’s own exchange, held up better than revenue. DefiLlama showed $312.8 million in deposits there at 10:56 a.m. ET, up from $309.3 million at 7 p.m. ET on Thursday.

Who’s buying and selling

The token barely reacted. $PUMP traded at $0.003946, per CoinGecko, with $124.5 million in 24-hour trading volume and a market value of $1.81 billion. Jupiter showed $0.003952, within 0.2% of that.

In the busiest $PUMP pool, on Orca and paired with $SOL, buyers made 42,294 trades against 33,408 sells over 24 hours, per DexScreener. That pool held $2.6 million in liquidity.

The picture was more even on PumpSwap’s pool against the $USDC stablecoin. GeckoTerminal counted 8,753 buys and 8,918 sells there, with $22.3 million in liquidity. Trade counts show activity, not how much each side bought or sold.

What to watch next

The next few daily readings will show whether revenue settles near $1 million a day or keeps shrinking.

PumpSwap deposits are the second gauge. They have stayed between $309 million and $329 million this week, per DefiLlama. Any word from Pump.fun on fees or buybacks would also help explain the trend. Until then, the weekly totals are the clearest signal of how busy the platform is.

Bottom line: Pump.fun is earning less week by week, while its 30-day revenue and its token price have stayed close to flat.

Price data: CoinGecko.