The Business of Memes: Inside the Solana Meme Coin Factory Pump.Fun
Main Idea
Pump.fun, a Solana-based meme coin launchpad, has generated significant revenue and raised substantial funds, but faces challenges with declining interest and competition.
Key Points
1. Pump.fun has generated $774 million in revenue and raised $600 million in an ICO, but its PUMP token is nearing its ICO price.
2. Revenue has declined by 80% from its peak in January, with current monthly revenue at $26.3 million.
3. The platform has launched nearly 12 million tokens, far surpassing Ethereum's ERC-20 tokens, but daily token creation has dropped significantly.
4. Competitor LetsBonk has taken market share, leading in meme coin launches on Solana for 14 of the past 15 days.
5. Pump.fun's founder believes meme coins will focus on the top 1% of projects, with most others being noise.
Description
Pump.fun has generated $774 million in revenue, raised $600 million in 12 minutes, and created almost 12 million tokens on Solana. Can it keep it going?
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