According to PANews, more than 1 million Meme coins have been created on the Solana and Blast blockchain-based crypto project Pump.fun since its launch in January, according to data compiled by Subin An, a data analyst at crypto venture capital firm Hashed.

Pump.fun has grown in popularity as the go-to place for retail investors to create and trade Meme Coins, bringing in more than $50 million in estimated revenue in just six months.

According to Alon, the site’s design was inspired by the minimalist style of 4chan, and the initial target market was 4chan users. Recently, Pump.fun has also attracted the attention of celebrities including rapper Iggy Azalea, who launched a token called MOTHER on Pump.fun.

Alon said Pump.fun was also influenced by SocialFi platforms like Friend.tech, which are seen as the cryptocurrency space’s answer to X and other social media giants.