Pump.fun sees surge in new token launches, "meme coin season" may return in December

In early December, the “meme coin” market once again showed strong signs of recovery. According to leading meme token issuance platform Pump.fun, the number of new tokens created has surged, suggesting that market risk appetite is warming up again. Dune data shows that the daily number of new tokens throughout December has consistently remained above 20,000, with more than 25,000 tokens created on December 2, marking a new high since mid-September and indicating a significant rebound in retail investor sentiment.

Although the issuance hype has not yet returned to its peak levels from early 2025, notable changes are taking place in the market structure. Analysts point out that as the end of the year approaches, investors’ interest in high-risk assets is increasing, and meme coins, with their low market cap and high potential returns, have once again become a focal point for retail attraction.

However, compared to earlier this year, Pump.fun’s revenue and decentralized exchange (DEX) trading volume are still down by more than 80%, reflecting that capital inflows have not fully returned. Nevertheless, one key metric stands out: since August this year, the number of active addresses on Pump.fun has remained steady at around 100,000 on average, and even during multiple periods of major market liquidations, there has been no significant user attrition.

DeFi Report founder Michael Nadeau further pointed out that Pump.fun’s user retention rate is significantly higher than Web2 platforms, with a week 4 retention rate of 12.4% and week 8 at 11.4%, whereas traditional internet platforms typically only see 5%-10% and 2%-5% respectively. Such data is especially critical amid the market panic and valuation declines in Q4 of this year.

Meanwhile, well-known trader Daan Crypto Trades stated that over the past two weeks, meme coins have outperformed mainstream altcoins overall, which could mean the market is ready to embrace high-risk assets again. However, he also cautioned that this trend may only be a short-term fluctuation and does not necessarily indicate a long-term trend restart.

(Source: Daan Crypto Trades)

A recent report by BeInCrypto also points out that at least three on-chain and trading indicators support the possibility of a “meme coin rally” restarting in December. If meme coin enthusiasm continues to heat up, the Pump.fun ecosystem may once again attract a large number of retail investors willing to take on high risks. Crypto data platform rankings show that in the first week of December, the Pump.fun ecosystem ranked third in market performance, further confirming the short-term increase in activity within the meme sector.