- A new monthly record of $30.5 million has been set for Pump.fun’s revenue.
With $30.5 million, Pump.fun, the notorious website that allows anyone to develop and launch a coin on Solana, has set a new monthly income record.
This amount surpasses the previous monthly all-time high of $28.64 million achieved in July and represents a 111% increase over the previous month’s total.
The October figure also ended a two-month downward trend in platform revenues, which had been declining by an average of 29% each month for the preceding two months.
the unexpected comeback of Pump.Fun ensued as memecoins of viral memes, of which MOODENG is the best example, experienced a remarkable surge in value.
However, this was not the only cause; a new “AI meta” flooded the onchain market, revealing a number of Pump.fun tokens that appeared to be “endorsed” by different autonomous AI agents posting on X.
With a peak market valuation of $920 million set on October 24, 2024, the GOAT token—which was “endorsed” by AI agent @truth_terminal on X—became the most valuable token ever to come from pump.fun.
A number of comparable “AI-related” tokens and memecoins, including GNON ($190 million), fartcoin ($83 million), and ACT ($74 million), also achieved 8-figure and 7-figure market values at their respective peaks.
The hoopla and attention surrounding these memes coins, however, have since subsided, and they are now far from their heights; the majority are down more than 50% from their respective all-time highs.
Memes Coins are still exploding on Pump despite the current “AI meta” dip.But it’s fun.
Most recently, after Elon Musk and Donald Trump mentioned the incident (not the memecoin), PNUT, a namecoin based on the P’nut the squirrel, a pet squirrel that went viral after being put down by New York officials, peaked at a market value of around $130 million.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
