The Rise of Moonshot: A New Competitor to Pump.fun Has Issued 7,000 Memecoins on Solana
In the fast-paced world of memecoins, a new player has entered the arena. DEX Screener, a popular data aggregator for decentralized exchanges (DEX), has just announced its own token launch platform called Moonshot. In true memecoin fashion, this competitor to Pump.fun is already making waves.
Launched on Monday, June 24, Moonshot is a platform based on the Solana (SOL) network that allows anyone to create and launch their own meme coin with minimal effort.
Users can mint a token with a fixed supply of 1 billion, and as soon as investors inject 500 SOL (approximately $64,000 at current prices), a liquidity pool is automatically created on the Raydium DEX.
This launch comes during a period of memecoin stagnation on Solana. This category of coins fell nearly 30% last week and plunged along with the rest of the crypto market on Monday. However, it is now 18% higher than yesterday, according to CoinGecko.
What sets Moonshot apart, though, is its focus on security and transparency. DEX Screener claims that its launch platform ensures all deployed smart contracts are fully audited.
Just one day after its launch, Moonshot saw an impressive 7,000 tokens created on its platform, a significant increase from the few hundred tokens shortly after its initial release.
Of course, not all these tokens are destined to "go to the moon." To give you an idea, out of the 7,000 tokens, only 27 reached the 500 SOL mark to obtain their liquidity pool on Raydium; of those, only a few observed positive price movements.
However, Moonshot is not just about memes. DEX Screener emphasized that its platform does not allow pre-sales or privileged allocations, ensuring a fair launch for all.
When a token reaches the market value of 500 SOL, Moonshot automatically burns 150 to 200 million tokens, creating a deflationary effect that can increase value over time.
