Pump.fun trading volume falls 63% in February… New token issuance also plummets

As the meme coin market comes under intense pressure from a series of scandals, Pump.fun has seen a significant drop in trading volume.
On the 4th (local time), the trading volume of Pump.fun, a token launch platform in the Solana ecosystem, increased by 6% in February compared to last January.
According to data from Dune Analytics, Pump.fun's total trading volume fell 119% in the first two months of 2025.
The volume of new tokens listed on PumpFun has also decreased. On January 24th, there were nearly 1,200 new tokens listed in a single day.
The token was launched, but by early March, trading volume had plummeted to less than 300 per day. Trading volume in February was the lowest since October 2024, but still far below the 2024 launch date of the platform.
Alon Cohen, co-founder of Pumpfun, said in an interview with Cointelegraph:
He explained that the decline is related to the overall cryptocurrency market downturn. "When market conditions are bad, altcoins and meme coins also tend to decline, which causes a lot of people, including Pumpdot fans, to buy and sell," he said.
"The overall cryptocurrency market activity is slowing," he said, adding that "the overall revenue share in the on-chain ecosystem remains essentially unchanged."