Solana: sales of memecoin platform Pump.fun plummet

After the banning of livestreams, Pump.fun's revenues dropped dramatically. No reason to panic, Solana's extreme outbreak before this was even greater.

The weekly revenue of Solana-based memecoin incubator Pump.fun has dropped by about two-thirds after its livestream feature was disabled due to malicious content. Last week, revenue was only about €10.4 million.

Yet before that, sales experienced a huge increase. In the seven days from Oct. 28 to Nov. 3, sales were still below €6.4 million, but in the following weeks they rose sharply. From Nov. 18 to 24, sales peaked at nearly €30.7 million.

The drop in revenue follows the elimination of the live stream feature, a measure community members had requested. Already dubious activity on the platform had reached new lows via video streams.

Major Solana memecoins such as BONK, WIF, POPCAT and PNUT also saw sharp price declines of up to 20% last week. Moreover, in terms of market capitalization, SOL has recently been overtaken by XRP.

If the hype around memecoins continues to wane in the future, it could have negative consequences for SOL and the broader blockchain ecosystem, founded by Anatoly Yakovenko.