Pump.fun Livestreams Return: Can New Rules Tame the Memecoin Wild West?

TLDR:

Table of Contents

Pump.fun has reintroduced livestreaming to 5% of users with new moderation systems
The feature was previously suspended in November after harmful content appeared
New guidelines prohibit violence, animal abuse, pornography and youth endangerment
The memecoin market has seen decreased interest following high-profile rug pulls
Despite moderation, the first new livestream resulted in a rug pull

Memecoin launchpad Pump.fun has partially restored its livestreaming feature after a five-month suspension. The Solana-based platform, which allows users to create and launch memecoins, had previously removed the feature due to extreme content that included threats of violence and self-harm.

Alon Cohen, co-founder of Pump.fun, announced on April 4 that livestreaming would return to just 5% of users. The restored feature comes with “industry standard moderation systems in place and transparent guidelines,” according to Cohen’s post on X.

pump fun livestreaming has been rolled out to 5% of users with industry standard moderation systems in place and transparent guidelines: https://t.co/26r5M4Awam
— alon (@a1lon9) April 4, 2025

The platform suspended livestreaming last November when it became overwhelmed with shocking content. Some creators were using extreme tactics to promote their tokens. The unprecedented growth strained moderators’ ability to manage the content.

New Moderation Policies

Pump.fun’s new moderation policy aims to “cultivate a social environment that preserves creativity and freedom of expression.” The policy prohibits specific types of harmful content while maintaining some ambiguity about what is considered appropriate.

Breaches of the guidelines could result in terminated livestreams and accounts. The prohibited content includes violence, animal abuse, pornography, and youth endangerment.

However, the platform stated that “there is an implicit assumption that some content — perhaps much content — generally defined as NSFW will in fact appear on pump fun.”

This suggests the platform expects adult-oriented material to remain part of its ecosystem.

The platform reserves the right to “unilaterally determine the appropriateness of content where necessary and to moderate it accordingly.” This gives Pump.fun broad authority to manage potentially problematic streams.

Despite the new moderation efforts, reports indicate the first new livestream after the feature’s return ended in a rug pull. The developer allegedly sold their entire wallet just minutes after launch.

Market Conditions

The return of livestreaming comes during a downturn in the memecoin market. Interest has decreased following several high-profile rug pulls such as Libra (LIBRA) and Melania Meme (MELANIA).

Token prices have performed poorly, with some like Trump (TRUMP) down over 90% from January highs according to CoinGecko. The “graduation rate” for tokens launched on Pump.fun has fallen to under 1%, down from previous highs of around 1.67%.

The total number of tokens graduating weekly has dropped from around 5,400 in January to under 1,500 in March. Overall token launches on the Solana network have also decreased by more than two-thirds since January.

Despite these challenges, Pump.fun shows signs of recovery. The platform now carries over 146,000 daily active wallets, with token launches recovering to over 30,000. Daily fees have stabilized between $1 million and $2 million.

PumpSwap, the platform’s native decentralized exchange, has locked over $35 million in liquidity pools. The DEX achieves over $227 million in daily volumes, potentially generating over $403 million in annualized fees.

This recovery could boost the entire Solana ecosystem, as DEX trading for meme tokens represents a key activity on the blockchain. Solana produced $370 million in fees for Q1, partially driven by meme token activity.

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