If you’ve ever wondered what happens to the millions of meme tokens flooding Solana, CoinGecko just provided the answer. It’s not pretty.
A sweeping on-chain analysis of 18.67 million tokens launched on Pump.fun between January 14, 2024, and June 18, 2026, found that just 4.55% of them, roughly 850,180 tokens, remained actively traded beyond 90 days. The other 95.45% effectively ceased to exist as tradable assets well before the three-month mark.
Dead on arrival
According to CoinGecko’s data, 68.67% of all Pump.fun tokens, approximately 12.8 million of them, recorded their last trade on the very same day they launched. Nearly seven out of every ten tokens created on the platform are born, briefly exist, and then never trade again, all within 24 hours.
Pump.fun uses a bonding curve model that lets anyone with a Solana wallet spin up a new token with minimal cost and no pre-allocated liquidity. Graduation rates from Pump.fun’s internal trading environment to external decentralized exchanges like Raydium sit below 1-2%. Out of every 100 tokens launched, fewer than two make it to the wider Solana DeFi ecosystem.
