Pump.fun memecoins are failing, and they’re dragging Bitcoin along for the ride.
The memecoin frenzy on Pump.fun is hitting a wall, with the platform’s “graduation rate” sinking below 1% for the fourth straight week.
“Graduation rate” is the memecoin launchpad’s term for tokens that make it through the incubation phase and become fully tradable on a Solana decentralized exchange (DEX). To graduate, a token must meet specific liquidity and trading requirements.
Over the past four weeks, starting from Feb. 17, Pump.fun’s graduation rate has remained below 1% for the first time, Dune Analytics data shows.
