- Pump.fun’s weekly new users dropped 16.4%, marking its first dip below 100K daily signups since November.
- Token launches fell 26.3%, and fees collected on the platform plunged by 32% after the LIBRA controversy.
- Memecoin trust is shaken, with the sector down 13.4% since Feb. 14 amid insider trading concerns.
The LIBRA token fiasco isn’t just a bad look for Solana’s memecoin scene—it’s hurting business. Pump.fun, a major Solana-based launchpad, has seen a steep drop in new users, token launches, and overall fees collected since the controversy erupted.
According to Dune Analytics data from user evelyn233, weekly new user signups fell 16.4%, dropping from 719,524 to 601,516 between Feb. 7 and Feb. 13—marking the first time since November that the daily average dipped below 100K.
Token Deployments and Fees Plummet
Memecoin enthusiasm is cooling fast—and it’s showing in the numbers.
Weekly token launches are down 26.3%, from 344,607 to 253,955.
Launchpad fees crashed 32%, dropping from 124,623 SOL to 85,196 SOL in just a week.
For the first time since December, weekly average fees fell below 15,000 SOL.
Despite the downturn, Pump.fun has still launched nearly 8 million tokens in the past 13 months—but the momentum? Clearly slowing.
LIBRA Fallout—Memecoin Trust Shaken
The LIBRA meltdown sent shockwaves across Solana’s memecoin market.
Argentina’s President Javier Milei hyped LIBRA on Feb. 14, claiming it would fund ventures in Argentina.
The token hit a $4.5 billion market cap—then collapsed 95% over the weekend.
Two wallets reportedly made $10M, perfectly timing buys right after Milei’s post and selling at the exact peak.
The debacle sparked insider trading suspicions, raising doubts about the integrity of memecoin markets on Solana.
As investors step back, the memecoin sector as a whole has fallen 13.4% since Feb. 14, making it the third-worst-performing altcoin category during this period, according to Artemis data.
What’s Next?
With trust shaken and volume drying up, the memecoin sector is at a crossroads. Will Pump.fun bounce back, or is this the beginning of a deeper decline?
For now, one thing is clear—memecoins aren’t invincible.
