Pump.fun meme records highest graduation rate since summer 2025. After the general resurgence of the Solana meme space, more and more tokens are moving into DEX trading.
Pump.fun’s tokens are transitioning their creation story, with more projects migrating to PumpSwap or other DEXs. The Pump.fun scale has crashed to lows before and is used as a proxy for the overall mood of the crypto market.
Pump.fun graduates have surged to their highest level since the summer of 2025, following a new wave of projects and further liquidity inflows. |Source: Dune Analytics
In the past few weeks, more tokens have moved their liquidity to decentralized exchanges. This change came after a period where teams were pushing new tokens while they were still in the “trenches” and draining initial liquidity.
In the past day, 269 tokens were graduated. This represents over 1% of all tokens created that day. The graduation rate was the highest since the summer of 2025, when 0.92% of tokens graduated.
Pump.fun creator team aims for longer-lasting meme tokens
The decrease in the number of tokens depends on the increase in daily launches, but it also signals a change for some teams who need to work hard to maintain the liquidity of their tokens.
Introducing new tokens into DEX pairs is also a sign of hope for the Solana ecosystem, where Meme is enjoying an influx of new liquidity and speculative trading.
Graduation is not a meaningful revenue stream for Pump.fun as the platform requires 1.5. $SOL commission. However, trading these tokens will result in an additional 1% increase in revenue from all subsequent swaps.
After a period when cult tokens were issued almost daily, recently issued tokens are still being cautiously accepted. Some of the new graduates’ assets are still closely targeted or controlled by insiders. The market capitalization of newly graduated tokens also rarely rises to significant valuations. While previous graduations took place at valuations between $30 million and $100 million in the first few days of trading, the new token’s market cap barely reaches $10 million.
Is Pump.fun’s graduation price too low?
Some of the newly graduated meme tokens have market capitalizations of less than $50,000. Tokens worth millions of dollars are rare, and even on DEXs, most last for a few days before selling pressure accelerates.
To graduate, the token needs to have a market capitalization of around $80,000 to $100,000. $SOL Retained in the bond curve. Some projects may easily provide liquidity for graduation and even continue pumping tokens, but this rarely guarantees organic growth. While meme tokens remain a risky trade, some projects have been successful in unlocking significant levels of new liquidity.
In over a year, Pump.fun has not produced any new graduated tokens valued at more than $500 million. Graduation rates vary by community, team, liquidity provider or whale, and can vary widely by project and trend. Our latest graduates were born from a new endeavor. Commodity Meme Token.
