Pump.fun, a platform for launching meme coins on the Solana blockchain, continues to achieve significant achievements despite the meme coin market transitioning from its peak.

The appeal of Pump.fun to investors is analyzed here, focusing on on-chain data and recent shifts in user sentiment.

According to data from SolanaFloor, Pump.fun generated $2 million in revenue in a day, surpassing Tron to become the third highest revenue-generating protocol after Tether and Circle. Pump.fun's revenue has decreased from its peak of $7 million, whereas Tron's daily revenue has remained stable between $1 million and $2 million this year. The total market cap of meme coins has dropped by 50% since the start of the year as per CoinMarketCap.

Despite warnings in the meme coin space, Pump.fun has sustained its growth momentum due to an effective business model and has surpassed Ethereum in total fee revenue for 2025. Pump.fun's performance can be attributed to the success of PumpSwap, its token swapping service, which has been generating $300,000 in daily revenue a month after its launch.

Users are drawn to Pump.fun as a source of fast-breaking news, often quicker than traditional media outlets. The platform has become a platform for the quick dissemination of information, allowing users to benefit by launching tokens based on anticipated trends.

Pump.fun is instrumental in introducing around 30,000 new tokens daily, with a trading volume of over $300 million and 350,000 active wallets daily. This high level of activity has contributed to Solana tracking more than 60% of all tokens in the market, as shown by CoinMarketCap data.