Pump.fun’s reported protocol revenue and Talos’s finding that 81% of its sampled memecoins fell at least 90% from their all-time highs (ATH) measure different things. The revenue figure tracks activity on the platform over a set period. The 81% figure describes how the prices of one sample of tokens moved. That sample is narrower than the set of everything launched on Pump.fun, so the two numbers cannot be read as a verdict on the platform’s launches.
What the 81% figure measures
Talos, a market-data firm, published “The Death and Life of the Average Memecoin” on October 6, 2026. Its return-comparison sample contained 151 tokens. Of those, 81% fell at least 90% from their ATH. Only five of the 151 (3.3%) later regained that high. A separate survival analysis used a 150-token sample. The two samples are close in size but are not the same set of statistics, and the article should be read with that in mind.
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Talos author Victor Ramirez, Senior Data Scientist, summarized the pattern this way: “Memecoins peak fast and die slowly.”
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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchThe exchange-price requirement shapes the sample
To enter the analysis, a token needed at least one centralized-exchange price. That requirement makes the sample easier to measure, because exchange prices give a continuous history that a freshly launched token on a launchpad often lacks. It also selects for tokens that attracted enough trading to reach an exchange listing, which generally means more successful coins. Talos states that this selection likely overestimates the lifespan of a typical launchpad coin. The 81% figure therefore describes exchange-listed tokens that were tracked, not every token minted on Pump.fun.
What “crashed” does and does not mean
The headline’s word “crashed” is looser than the study’s language. Talos says 81% of its sample fell at least 90% from ATH. It does not say those tokens went to zero, and it does not say every memecoin lost 90%. An ATH can only be identified in hindsight, so any comparison against it is structurally unfavorable to the token: a coin is measured against its best moment, which by definition no later price can match.
Two drawdown thresholds, two different questions
Talos uses two thresholds, and they answer different questions. Confusing them is the most common way the figures get misquoted.
| Measure | Threshold | Sample | Question answered |
|---|---|---|---|
| Return comparison | Drawdown of at least 90% from ATH | 151 tokens; 81% met the threshold, 5 (3.3%) regained ATH | How far below its peak did a sampled token end up? |
| Kaplan–Meier survival analysis | “Collapse” defined as a 95% drawdown | 150 tokens | How long does a token typically last before collapsing? |
The 95% threshold in the survival model is stricter than the 90% threshold in the return comparison, so a token can meet the first without the second being the relevant benchmark. Talos notes that the threshold choice affects the estimated lifespan, so the timing results should be read as sensitive to that definition.
Timing from launch to peak to collapse
The survival model measures three stages: first exchange trade, ATH, and a 95% drawdown from that ATH. Talos reports a median of 17.2 days from first trade to ATH. A quarter of the tokens reached their peak within 1.6 days. The median time from ATH to a 95% decline was 370 days. These are estimates from a Kaplan–Meier model applied to a sample of exchange-listed tokens. They describe that sample’s pattern and should not be used as a forecast for a token launched today.
What the revenue figure measures
CryptoSlate, citing DefiLlama, reported two protocol revenue figures for Pump.fun:
- About $18.6 million in protocol revenue over the seven days through October 7, 2026 (DefiLlama data, as reported by CryptoSlate).
- About $60.7 million over 30 days, reported on October 8, 2026 (DefiLlama data, as reported by CryptoSlate).
These are dated snapshots of a rolling window. They are not a permanent weekly run rate, and a later check of the same dashboard may show different values. Protocol revenue is also not the same as total fees paid by traders, the amount distributed to creators or holders, or money returned to any individual token. Keep the time window and the source attribution next to each figure whenever you cite it.
How Pump.fun’s fees are split
Pump.fun’s fee page was last updated October 8, 2026. It says creating a coin carries no platform fee. Graduating a coin to PumpSwap costs 0.015 SOL. Trades can carry protocol, creator, and liquidity-pool (LP) fees, and the rate depends on whether the trade is on the bonding curve or on PumpSwap, the trading pair, and, in canonical pools, a market-cap tier.
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The bonding-curve schedule
For tokens paired with SOL or USDC on the bonding curve, Pump.fun’s published schedule lists the following. This is one venue and one schedule, not the fee on every trade.
| Fee component | Rate on bonding curve (SOL- or USDC-paired) | Who receives it |
|---|---|---|
| Protocol fee | 0.95% | Pump.fun (protocol revenue) |
| Creator fee | 0.30% | Token creator |
| Total | 1.25% | Combined |
PumpSwap fees differ from the bonding-curve figures, and the schedule cited here does not state an LP fee for the bonding curve. Check the current fee page before quoting any PumpSwap rate.
Holder rewards in place of creator fees
Some coins can use holder rewards instead of creator fees, under conditions stated on Pump.fun’s fee page. A reader comparing two tokens should check which mechanism applies to each, because the same trade can route its fee differently.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.PUMP buybacks and the dashboard caveat
Pump.fun says half of every dollar the platform earns is used to buy PUMP on the open market and burn it. This is a stated policy, and the figures for it come from the platform’s own dashboard.
The same PUMP page warns that custom pairs currently mean the fee dashboard does not reflect revenue and buyback amounts correctly. Treat the dashboard’s live totals as unaudited, and do not assume the buyback figure matches the revenue figure one-for-one.
Why platform revenue does not mean a token recovers
Pump.fun earns fees on trading activity. Those fees accrue whenever tokens change hands, including when traders rotate between newer tokens. A platform can therefore keep generating protocol revenue while a particular older token remains far below its high. The two outcomes are measured on different things: the platform’s activity and one holder’s position.
Neither figure shows that a given holder profits, and neither shows that the platform is profitable after all of its costs. Platform revenue and buybacks do not guarantee a price recovery for any token or for PUMP. This article describes the reported numbers and their limits. It is not investment advice.
Quick Recap
How to read the headline correctly
- Check whether a figure is protocol revenue, total fees, creator fees, holder rewards, or PUMP buybacks. These are separate lines.
- Check the window: seven days through October 7, 2026, or 30 days reported October 8, 2026.
- Check the threshold: 90% from ATH in the return comparison, or 95% for “collapse” in the survival model.
- Check the sample: 151 or 150 exchange-listed tokens, not every Pump.fun launch.
- Check the source: Talos for the drawdown statistics, DefiLlama as reported by CryptoSlate for revenue, and Pump.fun for fee structure and buyback policy.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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