The number of Meme coins created on the Pump.fun platform has exceeded 1 million

Since its launch in January, more than 1 million meme coins have been created on Pump.fun, a crypto project based on the Solana and Blast blockchains, according to data collated by Subin Alon, a data analyst at crypto venture capital firm Hashed. Pump.fun has been gaining popularity as a preferred place for retail investors to create and trade meme coins, bringing in more than $50 million in estimated revenue in just six months. According to Alon, the design of the site was inspired by the minimalist style of 4chan, as Pump.fun was originally targeted at 4chan forum users. This year, Pump.fun has also attracted the attention of celebrities including rapper Iggy Azalea, who launched a token called MOTHER on Pump.fun. Alon said Pump.fun has also been influenced by SocialFi platforms such as Friend.tech, which are seen as competitors to X and other social media giants in the cryptocurrency space. (Bloomberg)