In recent weeks, the value of most Pump.fun tokens has sharply declined, causing substantial losses for investors.
Sharp Decline in Pump.fun Tokens
Data shows that most of these meme coins have declined by over 20% in the past seven days and more than 50% from their highest points this year. Their combined market cap has now fallen to $391 million. The Michi token, the largest part of the ecosystem, has dropped from $0.49 in May to $0.10, with its market cap shrinking from $187 million to $58 million. The Daddy Tate token, themed after Andrew Tate, has plunged from $0.52 to $0.072, with its valuation slipping to $43 million. Similarly, Rapper Iggy Azalea’s MOTHER token has tumbled from an all-time high of $0.22 to $0.0300, bringing its valuation to just over $38 million. Other top Pump.fun tokens that have faced significant declines include Billy, Smoking Chicken Fish, Aura, and Waffles.
Developers and Main Beneficiaries
Not everyone has suffered big losses. Data shows that Pump.fun’s developers have raked in nearly $100 million in cumulative fees since the platform’s launch, with July being the best month yet — generating over $28 million, following $20 million in June. Pump.fun’s revenue has already surpassed $15 million in August. Another key beneficiary is Sahil Aora, believed to be the mastermind behind some of this year’s most popular celebrity-backed tokens. He is estimated to have made over $30 million.
Justin Sun Launches Sunpump
Pump.fun’s meme coins have also benefited Solana (SOL), which has seen more activity across its decentralized exchanges like Raydium and Orca. Data shows Solana handled over $6.5 billion in transactions in the last 7 days. The success of Pump.fun has inspired the creation of other meme coin generators. Last week, Justin Sun unveiled SunPump, which is quickly gaining traction among users.
The sharp decline in Pump.fun tokens has had a significant impact on the market, with some developers and key beneficiaries earning substantial profits. Justin Sun’s launch of SunPump indicates the continued interest in meme coins and their generators.
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