Pump.fun’s activity plummeted 80% over three months, causing a sharp decline in Solana network fees

TechFlow News, June 17: According to The Block, Pump.fun—the leading Solana-based memecoin launchpad—has seen a continued deterioration in activity. The seven-day average token graduation rate has fallen to 0.26%, down approximately 80% from three months ago. The platform’s daily revenue in June averaged only about $800,000—plummeting over 83% from its peak of $4.8 million six months ago—and declining 25% month-on-month. Dragged down by this trend, Solana’s daily average fee revenue in June stood at roughly 5,300 SOL, far below January’s 33,000 SOL. Analysts note that substantial capital previously active in Solana’s memecoin sector has migrated to perpetual futures trading on platforms such as Hyperliquid, and the PUMP token has declined 40% cumulatively over the past six months.