Nearly seven out of every 10 tokens launched on the Solana-based meme coin launchpad, Pump.fun, since January 2024, stopped trading on the same day they were created, according to a new analysis by CoinGecko.
The study examined more than 18.67 million tokens launched on the platform, excluding only those that never recorded any trading activity. It found that almost 69% of tokens, or around 12.8 million, saw their final trade on the day they launched and did not remain active beyond a single calendar day. Overall, only 850,000 tokens, or 4.55% of all launches, survived for more than 90 days.
Meme Coin Graveyard
In its latest report, CoinGecko said the high failure rate reflects how easy it is to create tokens on Pump.fun. The platform’s low barriers to entry allow creators to launch large numbers of tokens and quickly move on to new projects if early interest does not materialize.
Another 2.18 million tokens survived just one day after launch before activity ended. These projects carried over into the next calendar day but failed to sustain attention. CoinGecko said this pattern is consistent with tokens that briefly gained visibility through trending feeds or influencer mentions before interest quickly faded. Together, about 15 million tokens stopped trading either on the day they launched or the following day, which means more than 80% of all tokens analyzed failed within two days.
There has also been a steady decline in token survival beyond the first 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.
Dogecoin, Shiba Inu, and $PEPE Slide
The broader meme coin market has been struggling for months after losing the strong momentum seen during the previous cycle. Several recovery attempts this year have failed to gain traction, which has left many popular tokens well below their earlier highs. The recent market turmoil has added further pressure.
The OG meme coin, Dogecoin (DOGE), for instance, has lost almost 25% over the past month. Shiba Inu (SHIB) was also down by nearly 20% during the same period. Meanwhile, Pepe ($PEPE) shed over 27%.
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