Platform allowing traders to short meme coins goes live
Source Fxstreet
- Dumpydotfun beta version has gone live, enabling traders to short meme coins.
- Several recently launched meme coins have experienced a 90% drawdown from their all-time highs.
- Pumpdotfun has generated over $75 million since its launch.
Dumpydotfun's beta version went live on Tuesday, allowing investors to short meme coins that are likely to end in the red zone.
Dumpydotfun meme coin shorting goes live
Solana meme coin shorting platform Dumpydotfun's beta version went live today. The platform allows users to short tokens if they see no potential for price appreciation. Following Pumpdotfun's success in launching several meme coins and generating outsized revenue, the platform appears to be another meme coin experiment.
Several meme coins launched through Pumpdotfun experienced drawdowns of almost 90% from their all-time highs. Due to these tokens' absence on derivatives exchanges, traders who predicted their fall were unable to short them.
However, the outlook has changed with the launch of Dumpydotfun, and several recently launched meme tokens could experience rapid declines compared to previous times.
For example, several tokens in the Pumpdotfun ecosystem are currently down, with weekly losses ranging from 10% to over 50%. Coins like BILLY, MICHY and MOTHER, which dominated the headlines last month, are down by 32%, 27% and 15%, respectively.
However, their decline hasn't slowed down Pumpdotfun, which has been raking in high revenue since its launch. It ranks number nine among the top protocols by revenue earned in the past 30 days.
The move now places its entire revenue since launch at $75.49 million.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant.
The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year.
Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus.
Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
