Pump.fun Meme Coin Activity Surges Amid Market Volatility
The meme coin platform Pump.fun has seen a surge in token creation, reaching over 25,000 new tokens on December 2. This marks the highest single-day count since mid-September and suggests that retail investors are returning to high-risk meme coin speculation as the year closes.
Data from Dune shows that Pump.fun maintained daily token creation above 20,000 throughout December, a significant increase compared to earlier months. Despite this growth, revenue and decentralized exchange volume on the platform remain down more than 80% compared to early 2025.
Michael Nadeau, founder of The DeFi Report, has analyzed user retention metrics between Pump.fun and traditional Web2 applications. According to his findings, Pump.fun achieved a retention rate of 12.4% in Week 4 and 11.4% in Week 8, which is significantly higher than the typical 5-10% retention seen in Web2 consumer applications.
Trader Daan Crypto Trades noted that meme coins outperformed major altcoins over the past two weeks, a trend that may signal increased market risk appetite. However, he cautioned that this performance could be short-lived and not representative of a long-term shift.