Pump.fun's AI Mayhem Mode Fails to Boost Token Launches and Revenue in First Week

Pump.fun recently launched its AI-driven Mayhem Mode, an opt-in feature designed to increase early trading volumes by using autonomous AI agents to buy and sell newly launched tokens during their first 24 hours. The agent receives an extra one billion tokens for trading, with any unused tokens burned after the period ends, aiming to facilitate price discovery and attract investor attention faster.

However, after one week of operation, the feature has shown negligible impact. Before Mayhem Mode, Pump.fun averaged around 17,300 token launches per day, which only inched up to 17,800 post-launch—a minimal increase given the high expectations. Daily revenue has actually declined since the feature debuted, contributing to a reduction in PUMP token buybacks that mechanically support its price.

The PUMP token currently trades at approximately $0.0031, down 74% from its all-time high of $0.012 in July. Pump.fun has invested over $175 million in buybacks since the peak, but trading fees and token launch revenue have dropped by 40–50%, compounded by technical issues that prevented buybacks on one day.

Data from Dune Analytics reveals that token graduation rates—the share of launched coins that gain traction—are modest and declining monthly. In October, only 0.61% of 451,939 tokens graduated, and recent days show a 4.8% downtick in launches. Community skepticism is growing, with some users comparing Mayhem Mode to wash trading and expressing concerns about artificial inflation and potential rug-pulls due to lack of curation mechanisms.