Pump.fun token launches plunge 80% amid memecoin scandals

Data from Dune Analytics shows a sharp decline in successful new token listings on memecoin platform Pump.fun, down more than 80% from January highs.

The number of tokens completing Pump.fun’s bonding curve, required for listing on a decentralised exchange, dropped to around 200 on February 26 from nearly 1,200 on January 23 and 24.

Overall token launches on Pump.fun have followed a similar trend, declining from over 70,000 on January 23 to about 25,000 by late February.

The decline in activity on Pump.fun and Solana is linked to a series of memecoin-related scandals that have weakened retail investor sentiment.

Solana (CRYPTO:SOL), which saw strong growth in 2024 due to memecoin trading, had its total value locked (TVL) increase from $1.4 billion to over $9 billion.

However, in 2025, concerns over insider selling and major retail losses have affected confidence in Solana’s memecoin ecosystem.

Pump.fun co-founder Alon criticised the controversy surrounding Libra (CRYPTO:LIBRA), a memecoin linked to Argentine President Javier Milei that lost about $4.4 billion in market capitalisation within hours of its launch.

Since January, traders have lost roughly $2 billion across 800,000 wallets on Official Trump (CRYPTO:TRUMP), a memecoin associated with former U.S. President Donald Trump.

On February 26, Pump.fun’s X account was also compromised to promote a fake governance token called “PUMP” and other fraudulent coins.

Pump.fun, a Solana-based platform, allows users to create and distribute their own tokens, primarily memecoins, with a simplified process.

The platform enables users to launch tokens for as little as $21, with tokens graduating to the decentralised exchange Raydium (CRYPTO:RAY) once their market cap reaches around $100,000.