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.