Pump.fun, a leading Solana token launchpad, keeps generating millions of dollars from memecoin trading even as most established tokens struggle to recover from steep losses.

The platform produced about $18.6 million in protocol revenue over the seven days through Oct. 7, according to DefiLlama data . Separately, a Talos study found that 81% of a selected group of memecoins had fallen at least 90% from their all-time highs, and recoveries from deep collapses were rare.

The contrast exposes a central fault line in the memecoin economy: trading across Pump.fun can enrich the platform, support PUMP buybacks, or reward selected users without necessarily helping someone holding a token whose demand has already disappeared.

Talos examined 150 memecoins for its survival analysis and 151 for return comparisons, requiring each asset to have pricing available on at least one centralized exchange . That threshold already selects for relatively successful tokens, meaning the results may understate the failure rate across the much larger universe of launchpad coins that never secure such listings.

Even among that stronger cohort, losses were severe.

The median token peaked about 17 days after exchange trading began. Talos defined collapse as a 95% decline from the eventual peak and estimated a median of about 370 days between the high and that threshold.

Only a small fraction of collapsed tokens later revisited their previous highs, while just five of the 151 coins in its return sample remained above their first-day price. In Talos’ analysis of major Solana memecoins , active addresses with balances of at least $1 had also fallen to no more than 7% of their respective peaks.

The pattern suggests attention frequently moves on rather than returning to repair older positions. Talos found roughly two-thirds of the Solana-era memecoins it examined never staged a meaningful second rally after their initial run.

From an on-chain analytics and liquidity distribution perspective, developments around "PumpFun verdient Millionen mit einem Markt, auf dem 81 % der Memecoins um 90 % abgestürzt sind" signal important shifts in network participation. Market participants observe that derivative funding metrics, exchange reserve telemetry, and smart contract protocol interactions reflect cautious accumulation alongside disciplined risk hedging across the sector.

Technical research analysts at CryptoAce VIP note that high-density order book clusters and volume-weighted average price (VWAP) benchmarks near recent consolidation floors will serve as pivotal indicators. Market observers are advised to cross-examine telemetry on verified block explorers before making capital allocations.

Editorial Fact-Check & Verification Note: This briefing was curated, corroborated, and synthesized by the CryptoAce VIP Editorial Desk. Readers following "PumpFun verdient Millionen mit einem Markt, auf dem 81 % der Memecoins um 90 % abgestürzt sind" are encouraged to review the full primary source coverage linked below for complete historical context, direct quotes, and official statements.