Pump.fun, the popular Solana-based meme coin launchpad, has seen its fortunes plummet following a series of alarming incidents tied to its livestream feature.

The platform seems to be grappling with the fallout from a decision to temporarily pause its livestream function after users broadcast disturbing content in a bid to pump their tokens’ values.

Weekly Income Nosedives

Information from decentralized finance (DeFi) data aggregator DefiLlama shows that between November 18 and November 24, Pump.fun generated an impressive $33.83 million in revenue, the highest since its launch in early 2024.

The figure represented a 60% increase from the prior week and a 400% jump since the beginning of November, as meme coin mania hit the broader crypto market. However, the following week saw a dramatic $22.52 million reversal, with proceeds plunging to $11.31 million, the lowest the platform recorded since the end of October.

Despite the dip, the $82.78 million raised in November, per DefiLlama, is still the highest amount Pump.fun has raked in across a 30-day period since it opened to the public. Monthly returns have been on a steady rise since March, with only a slight contraction in September, when they went down to $14.41 million, being the only blip. In that time, the meme coin launcher has earned more than $227 million in revenue.

The weekly income slump was also accompanied by a significant dip in the number of tokens launched on Pump.fun during that period. On November 30, according to data from Dune, only 34,359 were created, a 50% drop from a record 69,046 registered just ten days earlier on November 20.

Exploitative Livestreams

The decline came against the backdrop of Pump.fun’s decision to suspend its livestream feature amid rising concerns over harmful behavior. Originally intended to