Pump.fun, a memecoin creation platform, saw returning user activity hit a record high of nearly 20,000 wallets in January, signaling a resurgence in speculative interest. This renewed appetite has doubled the platform’s trading volume and revenue, fueling a 77% price recovery for its native PUMP token and contributing to broader Solana ecosystem activity.
Blockchain analytics firm Artemis reported the number of returning users on the memecoin creator platform Pump.fun reached a record high of nearly 20,000. These were traders that had not been active for approximately six months, suggesting a reawakening of memecoin trading interest.
Memecoins have been a key driver of overall Solana DEX volumes and the price of its native token, SOL. The renewed speculative interest may serve as a tailwind for both the PUMP token and SOL.
Data from DeFiLlama shows Pump.fun’s DEX volume doubled from $45 million to $106 million in January. Over the same period, the platform’s generated revenue expanded twofold from $700,000 to $1.5 million.
Since over 90% of collected revenue is used to buy back PUMP tokens, the early 2026 traction positively impacted its price. The token has exploded nearly 77% from a December low of $0.0017, trading at $0.0031 at the time of reporting.
As of mid-January, the weekly average PUMP buyback program climbed to nearly $11 million, hitting levels last seen in September. A recent report showed stablecoin supply on Solana printed a record high concurrently, with memecoins’ share in Solana’s DEX volumes surging to 63%.
The results saw SOL’s price front a 16% recovery, though it erased some gains subsequently. The correlation underscores how impactful memecoin demand is on Solana and SOL’s price dynamics.
