Pump.fun's PUMP token experienced a dramatic 70% decline in 2025, despite a significant $600 million sale valuing the project at $4 billion. The token's price fell from $0.008 to $0.0017, driven by large-scale selling by major holders and waning interest in meme tokens. Other altcoins, such as WLFI and MON, also faced challenges, each losing over 40% towards the end of the year. Efforts by Pump.fun to stabilize the token through buybacks were insufficient against the backdrop of a weak market and investor fatigue. The fear and greed index remained near extreme fear levels throughout the year, reflecting persistent bearish sentiment.