Nearly 70% of Tokens Launched on Solana’s Pump.fun Cease Trading on Launch Day
A significant majority of meme coins introduced on the Solana-based launchpad Pump.fun since January 2024 have failed to sustain trading activity beyond their initial day of release, according to a new analysis by CoinGecko.
The study, which examined over 18.67 million tokens launched on the platform (excluding those with no trading activity whatsoever), found that approximately 69% of these tokens, equating to around 12.8 million, saw their final trade on the same day they were created. This indicates that these tokens did not remain active for more than a single calendar day. Overall, only about 850,000 tokens, representing 4.55% of all launches, managed to survive for longer than 90 days.
In its latest report, CoinGecko attributed this high failure rate to the ease with which tokens can be created on Pump.fun. The platform’s low barriers to entry enable creators to launch a large volume of tokens and quickly pivot to new projects if initial interest fails to materialize.
An additional 2.18 million tokens ceased trading just one day after their launch, meaning they carried over into the next calendar day but could not maintain engagement. CoinGecko suggested this pattern is consistent with tokens that briefly gained visibility through trending feeds or influencer mentions before interest rapidly dissipated. Combined, approximately 15 million tokens stopped trading either on their launch day or the following day, indicating that over 80% of all analyzed tokens failed within the first two days.
Furthermore, there has been a consistent decline in token survival rates beyond the initial few days. Around 770,249 tokens, or more than 4%, remained active for two to three days, while 642,614 tokens, or 3.4%, survived between four and seven days. Another 460,697 tokens, representing 2.5%, continued trading for eight to 14 days.
The broader meme coin market has been experiencing a downturn for months, having lost the strong momentum observed during the previous market cycle. Several recovery attempts this year have failed to gain significant traction, leaving many popular tokens trading well below their previous all-time highs. Recent market volatility has further intensified this pressure.
For instance, the original meme coin, Dogecoin (DOGE), has seen a decline of nearly 25% over the past month. Shiba Inu (SHIB) also experienced a drop of nearly 20% during the same period, while Pepe (PEPE) shed over 27%.
Leave a Reply