PumpFun’s biggest problem right now?
Nothing new to trade.
Back in January, over 400,000 tokens were launching per week. That’s fallen to just 80,000.
And when new tokens dry up, the whole machine slows down.
Bonding curve trading volume is down too, dropping from $2B+ to just $350M.
That’s their core revenue stream. The 1% fee model only works if there’s constant churn.
Hype → launch → trade → repeat.
PumpFun built a monster.
Now they have to figure out how to keep feeding it.
$PUMP
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