Memecoin Hype on Solana Drives Pump.fun revenue above $30 Million
Pump.fun, a low-cost token creation platform on the Solana network, has seen a resurgence in recent weeks due to the renewed hype around memecoins. This revival has been fueled by various new projects, including celebrity-backed coins.
On May 30, Pump.fun recorded its highest revenue day, earning $1.48 million. This performance contributed to the platform's total revenue reaching $30 million, according to The Block's Data and Insights newsletter.
Revenue has been increasing as creators launch tens of thousands of memecoins daily, drawing attention to the ecosystem. One notable example is Caitlyn Jenner, who recently promoted a memecoin created on Pump.fun and later launched the token on Ethereum, using the proceeds to support Donald Trump's campaign.
Additionally, rapper Iggy Azalea capitalized on the memecoin hype by independently launching her $MOTHER token on the Solana network, in a move seemingly mocking a promoter attempting to launch an IGGY token.
The Block also speculated about another potential token launch by singer Katy Perry.
Amid these developments, the GME token, inspired by Gamestop, surged over 200% following a resurgence of interest from influencer Roaring Kitty.
In summary, with the recent increase in Pump.fun's revenue, the new wave of meme cryptocurrencies suggests that users are launching numerous tokens, hoping to create the next high-return memecoin. To date, Pump.fun has generated $31.8 million in revenue.
Pump.Fun is a way to find a token even before it reaches Radiyum and be a very early buyer. Or create a Token with just 2$.
How it works:
Each coin on pump is a fair-launch with no presale and no team allocation.
step 1: pick a coin that you likestep
2: buy the coin on the bonding curvestep
3: sell at any time to lock in your profits or losses
4: when enough people buy on the bonding curve it reaches a market cap of $69kstep
5: $12k of liquidity is then deposited in raydium and burned
#SolanaStrong #CryptoNews🚀🔥 $SOL
