Memecoins
Pump.fun Leads Ethereum in Daily Revenue
- Pump.fun surpasses Ethereum in daily revenue after raking in $1.99 million in the last 24 hours.
- Celebrity meme token SWEENEY crashes as developers dump on investors.
- WIF price has dropped 4.7% in the last 24 hours after Monday’s 10% surge.
Meme Coin Generation Platform Pump.fun has surpassed the Ethereal blockchain in daily revenue on Tuesday after raking in $1.99 million. Following the feat, a celebrity meme coin based on actress Sydney Sweeney has been embroiled in controversy after its developers dumped their bags on investors.
Pump.fun Claims Bragging Rights Over Ethereum in Daily Trading Volume
Solana’s meme coin launchpad Pump.fun has surpassed Ethereum in daily revenue today, according to data from DefiLlama. Pump.fun has generated $1.99 million in revenue, more than Ethereum’s $1.91 million in the past 24 hours.
This makes the platform the largest revenue generator across all blockchain networks. Pump.fun saw over 11,528 tokens distributed on its platform on Monday, increasing the total number of tokens launched via its launchpad to 1,199,685, according to data from Dune Analytics.
Therefore, its revenue generation has increased in the last 24 hours. Previously relationships further revealed that Pump.fun has achieved cumulative revenues of over $50 million since its launch in January.
Meanwhile, a potential celebrity pump-and-dump meme coin launch based on actress Sydney Sweeney has caught the attention of the last few hours. The SWEENEY token has quickly amassed more than $1 million in market cap after Sydney Sweeney posted about it on her X account.
However, following revelations from several analysts that token developers hold a large percentage of its supply, several potential insider wallets quickly dumped their bags on investors. Not long after, Sweeney’s posts about the token disappeared from his X account.
Following this, @sahildotfun, an account linked to the launch of several celebrity meme coins, appears to have been suspended on X.
On the other hand, larger Solana-based meme coins have seen declines over the past 24 hours. WIF and BONK have lost 5% and 2% of their value, respectively, erasing gains from Monday’s price surge.