PumpFun Revenue Plunges 96% to Lowest Level Since March 2024
Memecoin launchpad Pumpfun has struggled since its token launch on July 14, and the platform’s metrics are echoing its token’s poor performance, with weekly revenue falling to its lowest level since March 2024.
Pumpfun earned just $1.7 million in revenue between July 28 and Aug 3, its worst week since March 2024, when it earned $1.52 million. The figure represents a 96% drop from its all-time high of $43.6 million in January, the week after the TRUMP memecoin launch, which led to froth and exuberance in the memecoin space.
It is worth noting that the $43.6 million all-time high was an outlier, with most weeks during peak memecoin season generating between $15 million and $25 million.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io