Pump.fun hits new records: $1 billion in volume in 24 hours

A new wave of memecoin has swept the Solana network, with Pump.fun as the undisputed leader of this movement. 

Key Data and Sources: Record Volumes and TVL on Pump.fun

In the last 48 hours, volumes on Pump.fun have reached a record on a daily basis, according to public dashboards. In this context, the data presents a picture of strong traction in trading.

According to the data collected by our analysis team and public dashboards (timestamp September 15–16, 2025), peaks in activity are clearly visible on trading metrics and TVL. Industry analysts contacted emphasize that the combination of on-chain incentives and live formats has acted as a traffic multiplier during the indicated windows; further checks on individual volume flows are ongoing.

• Daily volumes: approximately $942 million (day 1) and $1.02 billion (day 2)
• TVL (total value locked): peak at $334 million
• Payments to creators: approximately $4 million in a single day

Meanwhile, the overall capitalization of memecoins has shown fluctuations: at certain times it has surged to around $83 billion, while at the time of consultation on September 16, 2025, the “Memes” section of CoinMarketCap indicates a value of approximately ~$76 billion. The range confirms the high variability of the sector.

Why the Boom: Factors Driving Volumes

The recent dynamic appears to be driven by a combination of speculative interest, new launch platforms, and incentives aimed at engagement. That said, the sequence of factors operates cumulatively, favoring the network effect.

• Low network costs on Solana and low latency facilitate fast trading; for technical information on Solana, see the official documentation at solana.com.
• Continuous launch of new “community-driven” tokens with lean initial liquidity.
• Incentives for creators and live formats that drive the discovery of emerging projects; delve into the strategy with this reward program for creators by Pump.fun.
• Social coverage and hype cycles that attract opportunistic flows.

7/30 Day Trend: Acceleration and Benchmark

The most recent readings on public dashboards suggest an accelerating trend compared to previous weeks. Over the 7 days, the data indicates an increase in the average, supported by a mix of small projects aggregating high volumes. It should be noted that further precise checks are underway.

TVL and 24-hour revenue: positioning in the DeFi landscape

According to DefiLlama, the TVL of Pump.fun has reached $334 million for the first time. In the 24-hour revenue metrics, the protocol has surpassed the perpetual exchange Hyperliquid for two consecutive days, ranking third among the monitored DeFi protocols, behind the stablecoin projects of Circle and Tether. Indeed, the alignment between trading activity and generated fees is evident.

• Recent maximum TVL: $334M
• 24h Revenue: among the Top 3 DeFi protocols, behind Circle and Tether
• Direct competition: overtaking Hyperliquid in consecutive daily windows

Overall, these data highlight a structural push towards growth, supported by both trading activity and the mechanics of launch and the fees generated.

Streaming and incentives: the “creators” effect on volumes

The platform reported having distributed approximately $4 million in rewards to creators in a single day, with a particular focus on live debuts. According to a co-founder, the livestreaming feature averaged a higher number of concurrent sessions than Rumble and reached a share close to 1% of Twitch and 10% of Kick, although this claim has not been verified by independent sources. In this context, the role of live formats emerges as a discovery lever.

What to Check

• Consistency between payout to creators and growth of net volumes.
• Distribution of volumes per wallet (concentration and rotation).
• Impact of live sessions on dwell time and generated fees.

The tokens that lead: between big names and newcomers

Besides Dogecoin, which according to recent analysis has recorded a weekly increase of +11%, assets like Memecore (M), Moo Deng (MOODENG), and DORA (DORA) have stood out with double-digit gains. The combination of established brands and new tickers has kept traders’ attention high, with rotation remaining strong.

Risks and Critical Points to Monitor

• Extreme volatility: rapid movements can amplify losses.
• Wash trading and activities of bot/MEV can inflate apparent volumes.
• Fragile liquidity: small pools exposed to high slippage.
• Rug pull and smart contract permissions: necessary checks on ownership and lock; read the analysis on the evolution of Rug Pulls in DeFi.
• Regulatory uncertainty: issuance and promotion of “meme” tokens remain subject to debates.

In Brief

Pump.fun rides a renewed momentum of memecoins, pushing volumes beyond $1 billion in 24 hours and marking a record TVL at $334 million (peak recorded on September 15–16, 2025). The creator incentives and streaming seem to have contributed to the growth, although there are still points to verify regarding market shares and quality of volumes. The context remains rapidly changing.