Pump.fun’s 79% first-day dropout rate fuels memecoin trader fatigue

Nearly eight in 10 Pump.fun tokens have stopped trading after their first day, according to a study, while traders have complained about too many new coins and too few reasons to hold them. Bitquery found 79% of Pump.fun tokens traded only on launch day. Just 17.2% of September launches recorded a trade at least 24 hours later, Jumpbit reported. MemeFees counted at least 21,765 launches across eight platforms on Oct. 19. Traders complained about instant selling and fewer reasons to hold new tokens. Bitquery, the blockchain data provider behind the finding, tracked new Solana tokens from Nov.

Source: crypto.news