After experiencing steady growth since early November, the daily revenue of meme coin launching platform Pump.fun plummeted. Revenue dipped from a monthly high of $5.3 million on Nov. 24 to $3.6 million on Nov. 27.
Pump.fun Daily Revenue Drops After Banning Livestreams
Meme coin launching platform Pump.fun has experienced a sharp decline in daily revenue following its decision to ban livestreaming.
The Solana-based platform removed the livestreaming feature after reports that some meme coin creators were using extreme tactics to promote their tokens. Pump.fun announced that the pause would remain in effect until a moderation system could be implemented to handle the increased activity.
Concerns regarding shocking stunts live streamed by desperate meme coin creators were escalating. However, the broadcast of a purported suicide finally prompted Pump.fun to act. A Nov. 27 report by DL News later revealed the suicide video was a staged stunt by the meme coin creator.
Critics believe the daily stream of such stunts and shocking acts contributed to Pump.fun’s phenomenal revenue growth — exceeding $230 million since January. However, an expert quoted in a DL News report suggests the drop could signal user fatigue.
“Many users have expressed fatigue with Pump.fun meme coins, and negative sentiment towards the platform has reached an all-time high,” the expert said.
Moreover, Pump.fun faces increasing competition. Coinbase’s Base platform is considered its most powerful rival, while Justin Sun’s Sunpump and Token Mill are also vying for market share.
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