Pump.fun Activity (Solana Memecoins)
Pump.fun earned $26.9M in fees over the last 30 days against $23.6M in the 30 days before, a change of +14.1%. That clears the 5% threshold, so speculative appetite on Solana is expanding. This is shown as context and does not vote.
What does pump.fun activity measure?
Pump.fun is a Solana launchpad that lets anyone create a token in a few clicks. New tokens trade on a bonding curve, and once one attracts enough buying it graduates to a full decentralised exchange. The site earns a cut of every trade, so its daily fee revenue moves almost one for one with how much speculation is running through it.
That makes fees a good stand-in for something otherwise hard to measure: how busy the trenches are. Not the price of any particular coin, but the raw volume of people launching, buying and flipping brand new tokens on the chain where most of that behaviour happens.
This page reads daily fees from DefiLlama and compares the last 30 days against the 30 days before them. It reports the direction of that change, not a level, and the current day is excluded because it is still accumulating.
The direction only changes on a move of more than 5% either way. Fee revenue is noisy enough that a 1% month means nothing, and without that deadband the label would flip between rising and cooling on essentially random variation. Anything inside the band is reported as flat, which is a real answer rather than a hedge.
Why it matters for the bull market
Memecoin activity is close to a pure measure of speculative appetite. Nobody buys a token that launched four minutes ago as a store of value. When launch volume expands, retail is not merely present, it is reaching for the highest-risk thing on offer, and that behaviour has historically clustered in the frothiest stretches of a cycle rather than the early ones.
It is shown here as context rather than counted, for two reasons that are hard to argue away. Pump.fun has only existed since 2024, so there is exactly one cycle to calibrate against and no honest way to claim a threshold is validated. And it measures a single venue on a single chain: the tracker’s other fifteen signals are Bitcoin or market-wide, so letting Solana memecoins carry the same weight as the 200-day moving average would misrepresent what the verdict is built on.
Read it as a temperature gauge for the risk curve rather than evidence for or against a bull market. Rising activity alongside a strong Bitcoin tape describes a broad, confident market. Rising activity while the majors stall is the more interesting signal, and historically the less comfortable one.
Frequently asked questions
What is pump.fun?
A Solana launchpad where anyone can create a token in a few clicks. New tokens trade on a bonding curve and graduate to a decentralised exchange once they attract enough buying. It takes a fee on trades, which is what this page tracks.
Why track fees rather than the number of tokens created?
Token creation is close to free, so the count can be inflated by bots and tells you little about whether anyone actually traded. Fees only accrue when real volume moves through the platform, which makes them harder to game and a better measure of genuine activity.
Does memecoin activity predict a bull market?
It is more coincident than leading, and it runs hottest late in cycles rather than early. Treat a surge as evidence that risk appetite is already stretched, not as a signal to expect one.
Why is this not counted in the verdict?
Two reasons. Pump.fun has only existed since 2024, so any threshold would rest on a single cycle with no way to validate it. And it covers one venue on one chain, while the fifteen counted signals are Bitcoin or market-wide.
Why does a small change count as flat?
Daily fee revenue swings on weekends, single viral launches and one-off volume spikes, so a month that lands 1% either way carries no information. The direction shown here only changes on a move of more than 5%, and anything inside that band reads as flat.
What if a rival launchpad overtakes pump.fun?
That is the main weakness of this figure. Pump.fun is roughly nine tenths of Solana launchpad fees today, but competitors have taken share before. If activity moved to a rival, this page would show a decline that looks like cooling speculation when the trenches were merely busy somewhere else.