Kelvin Daminabo
The rise in popularity of meme coins has significantly boosted Pump.fun’s revenue to $30 million, as the platform capitalizes on the resurgence of meme culture in the cryptocurrency realm. Recent weeks have been abuzz with meme-related news, such as the comeback of Roaring Kitty and the passing of Dogecoin’s iconic Shiba Inu, Kabosu.
Despite the attention given to spot Ethereum ETF approvals and positive inflation data, meme coins continue to be a driving force in the crypto market. The emergence of PolitiFi, a niche of meme coins associated with political figures in name only, has reignited interest in trading. Even the conviction of former President Donald Trump has stoked the frenzy, prompting celebrities like Caitlyn Jenner and Iggy Azalea to launch their tokens on Pump.fun and Solana.
Caitlyn Jenner’s token, available on both Pump.fun and Ethereum, has garnered considerable interest, with the celebrity utilizing the token’s fees to support Trump. Meanwhile, Iggy Azalea’s introduction of the $MOTHER token on Solana seemed to counter an attempt by a promoter to launch an IGGY token, highlighting the impact of meme coins on engagement and creativity within the crypto community.
The resurgence of celebrities participating in crypto, following a lull in 2022, indicates a renewed enthusiasm for the market and the potential of meme coins to drive widespread adoption. With the evolving crypto landscape, meme culture’s influence and platforms like Pump.fun are likely to shape the industry’s future significantly.
Pump.fun’s Revenue Surges with New Features and Celebrity Tokens
Following a recent exploit, Pump.fun, the meme coin launching platform, achieved its highest revenue of $1.48 million on May 30th, showcasing a resurgence in user engagement as many strive to create the next viral meme coin. Despite a recent setback, Pump.fun’s resilience and popularity are evident in its impressive revenue growth.
Since its establishment, Pump.fun has amassed $31.8 million in revenue, as reported by DeFiLlama. This success is unsurprising, considering its position as the leading platform for new Solana tokens. In the past month, nearly half a million tokens were created on Pump.fun, demonstrating its widespread popularity and the appeal of meme coins.
The buzz surrounding Pump.fun is tangible, with users eager to be part of the next big trend. The launch of tokens by celebrities such as Caitlyn Jenner has added to the excitement, underscoring the substantial influence of celebrities in the crypto realm. As Pump.fun continues to thrive, its ability to sustain momentum and become a staple in the meme coin realm will be worth monitoring.