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Celebrity-Inspired Meme Coins Drive Pump.fun’s Revenue Surge

On Monday, more than 11,500 tokens were created on Pump.fun. This surge is largely driven by the popularity of celebrity-inspired meme coins, which have significantly increased revenue for the token launchpad.

Revenue Surge

In the past 24 hours, Pump.fun generated $2 million in daily revenue, surpassing Ethereum’s $1.91 million. This made Pump.fun the top revenue generator among all blockchains, according to DefiLlama data. Dune Analytics reported that 11,528 tokens were deployed on Monday, bringing the platform’s cumulative total to 1,199,685 tokens. With cumulative revenue now at $50.9 million, Pump.fun is on track to exceed its projected $66 million in annual revenue by the end of the year.

The Celebrity Meme Coin Trend

The trend of celebrity-themed meme coins began in late May. Celebrities like Caitlyn Jenner, Iggy Azalea, Trippie Redd, and Davido launched meme coins on Solana. This trend has attracted crypto enthusiasts who are creating tokens on Pump.fun, hoping one will go viral and increase in value.

Advantages and Risks on Solana

Solana, the blockchain that hosts Pump.fun, offers cheaper transaction costs compared to Ethereum. This affordability allows more users to create tokens but also poses a risk. The lower costs make it easier for bad actors to conduct rug pulls, where they create tokens and then disappear with the investors’ funds.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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