Pumpfun遭遇滑铁卢：7月收入暴跌80%，平台币PUMP腰斩，市场份额遭LetsBonk蚕食

The once-popular Solana ecosystem Meme coin launch platform Pumpfun encountered a severe downturn in July 2025, recording only $24.96 million in revenue, which is more than an 80% big dump from the peak in January, setting a historical low. The platform's native token PUMP has fallen by 50% since its launch, with its market share being significantly seized by the competitor LetsBonk to 80%. Coupled with the legal risks of a collective lawsuit, Pumpfun is facing multiple crises, and the overall enthusiasm in the Solana ecosystem Meme coin market has noticeably cooled.

1. Income falls off a cliff, platform Token PUMP halves The Solana (SOL) ecological Meme coin launch platform Pumpfun, launched in January 2024, performed poorly in July 2025, recording only $24.96 million in revenue. This is an 80%-82% big dump compared to the peak of $130 million to $137 million it set in January 2025, marking the lowest monthly revenue record in the platform's history.

Looking ahead to 2025, Pumpfun's revenue shows a continuous downward trend: $90 million in February, plummeting to $37 million in March, maintaining a range of $40 million from April to June, and finally hitting rock bottom in July. Daily revenue data is equally bleak, with only $293,000 recorded on July 28, marking the first time since last September that it fell below the $300,000 mark, which starkly contrasts with the brilliance of over $7 million in daily revenue in January.

The platform's native Token PUMP has also not been spared. Since its launch price of $0.006, the price of PUMP has continued to decline, currently hovering around $0.003, with a drop of up to 50% within a month, showing a typical post-ICO fall pattern.

2. Trading volume continues to shrink, market momentum明显减弱 The overall momentum of Pumpfun is declining month by month. Its platform trading volume has significantly dropped from a peak of 700 million USD at the beginning of the year to 150 million USD currently (as of early August). Trading volume, as a key indicator of user activity, clearly points to a comprehensive decline in user engagement on the Solana chain.

3. The overall Meme coin market is cooling down, Pumpfun is caught in a difficult situation The predicament of Pumpfun partly stems from the contraction of the entire Memecoin Sector. The total market value of Meme coins has plummeted from $85 billion to $65 billion in less than two weeks, evaporating $20 billion. The 24-hour trading volume has also fallen sharply from $17.2 billion to $5.5 billion, significantly shrinking market liquidity.

However, Pumpfun's predicament runs deeper. Its market share is being crazily devoured by its competitor LetsBonk. In the Solana Token launch market, LetsBonk's dominance has soared from 12% to an astonishing 80%, while Pumpfun's market share has been squeezed down to just 15%. This loss of market share is almost simultaneous with its revenue big dump, indicating that the flow of funds is rapidly shifting towards LetsBonk.

4. Legal lawsuits exacerbate the situation, the platform's prospects are worrisome What makes things worse for Pumpfun is the legal risks it faces. A class-action lawsuit filed in January 2025 accuses the platform of facilitating "rug pull scams" through token launches and unregistered tokens. This casts a legal shadow over its operations.

Conclusion: Pumpfun, once a star Meme coin launch platform in the Solana ecosystem, is currently facing severe challenges, including a big dump in revenue, a Token halving, user attrition, a significant market share being seized by competitors LetsBonk (80% market share), and entanglements in legal disputes. The overall heat of the Meme coin market on the Solana chain has noticeably cooled. Under multiple pressures, Pumpfun's big dump seems to reflect not just a short-term correction, but a profound reflection of its business model and market competitiveness. In the context of a decline in Memecoin hype, strong rivals lurking, and increasing legal risks, whether Pumpfun can reverse its decline and regain its leading position as the Solana ecosystem's Meme coin launcher has become the focus of market attention.