Pump.fun’s 24M launches yield just 312 tokens above $100K – What gives?

Is cooling memecoin demand driving PUMP’s decline? The memecoin market cap fell 15% in October, shedding more than $5 billion. While that accounts for just 2% of the broader $250 billion crypto wipeout, high-cap memecoins have also shown weaker momentum. Dogecoin has taken a hit of almost 20% while Ethereum has fallen just 16%. This is making Pump.fun’s 30% correction look like part of a larger trend for memecoins, as speculative appetite continues to cool. This is supported by Pump.fun’s co-founder, Alon, who took to X to comment on the lack of price momentum in PUMP. He acknowledged that the token has been affected by the broader market downturn in the short term but remains optimistic about its long-term outlook, describing it as “bright.” In essence, PUMP’s drop is a…

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