Only 5% of Pump.fun tokens survive past 90 days, CoinGecko study finds

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.

A billion-dollar graveyard

The platform has generated over $1 billion in cumulative revenue, making it one of the most significant revenue drivers in the entire Solana ecosystem. Every token launch generates fees. Every trade on the bonding curve generates fees. Whether the token goes to zero in six minutes or six months, the platform already got paid.

The 18.67 million tokens analyzed represent one of the largest datasets ever assembled on meme token performance. The 4.55% that survive past 90 days means the token still had at least one trade after three months. It doesn’t mean it was profitable for anyone who held it.

Context and the bigger picture

At 18.67 million launches over roughly 29 months, that averages out to more than 21,000 new tokens per day. The sheer volume creates a discovery problem that compounds the survival problem, as tokens with genuine community backing can get buried under an avalanche of new launches within hours.

What this means for traders and investors

A 68.67% chance of a token dying on its first day means that the majority of capital deployed into newly launched Pump.fun tokens is, statistically speaking, going to zero almost immediately. The 4.55% survival rate past 90 days means that even if you’re selective, the odds are overwhelmingly stacked against long-term holding.

One thing the data makes clear is that Pump.fun’s revenue success and its users’ investment success are two very different things. The platform thrives on volume. Its users, by and large, do not.

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