Pump.fun hits $30M in revenue thanks to Solana meme coin frenzy

Pump.fun’s revenue has surpassed $30 million as meme coins with their own respective sub-sector create their own waves.

Over the past month, we’ve seen a lot of meme-centric news. Roaring Kitty, the face of the GameStop 2021 rally, returned to X. Pump.fun, the meme coin launchpad, was exploited for $1.9 million from a former employee. The face of Dogecoin, the Shiba Inu Kabosudeceased.

Cryptocurrency market he was also brought back by the enthusiasm for the shocking approval of the commercial Ethereum ETF 19b-4 approvals and more encouraging inflation data due out in the US this month.

But the meme fuel remained strong if we focus on the past week. On the one hand, the new subsector PolitiFi (Political Finance), with meme coins linked to lawmakers only by name, with no official affiliation, has once again become a hotbed of business activity in the wake of former President Donald Trump’s guilty verdict in his secret trial.

Perhaps the most exciting news is that celebrities appear to be getting back on the cryptocurrency bandwagon. Many A-list celebrities seemed to touch on cryptocurrencies in 2021 and 2022, during the height of the bull market, but then dropped the topic when the hype faded.

But Caitlyn Jenner entered the scene, throwing her own token pump.fun and promoting it on both his X and his Instagram. Many people thought the accounts had been hacked, but she posted a video verifying that she was behind the post. Jenner subsequently launched the token on Ethereum (ET), and is using the commissions collected from it to support Trump.

Also rapper Iggy Azalea launched its $MOTHER token independently of Solana, apparently in response to a promoter who was trying to launch an IGGY token.

Increase pump.fun revenue

Although it seems that only Jenner used pump.fun for her Solana (SOL) meme coin, meme energy was transcendent. Despite being tapped less than two weeks ago, pump.fun rebounded and recorded its highest revenue on May 30, taking home $1.48 million.

Like the last time we saw a spike in the platform’s revenue, this indicates users flipping a lot of tokens, hoping to create the next meme coin that creates sizable returns.

Second DeFiLlama, pump.fun has reported $31.8 million in revenue since it went live. This is no surprise, given that it is home to new tokens on Solana – nearly half a million have been created in the last month alone.

Screenshot of DeFiLlama’s current Pump.Fun entries

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