Trump and Musk Interview Sparks 10,000 Meme Coin ICO Boom on Pump.fun
Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.
The Elon Musk hosted Donald Trump interview on X Spaces triggered a massive influx of meme coin launches on the token launchpad Pump.fun.
Within a three-hour window, an astonishing 10,000 new tokens were launched on the platform.
3 hours. Tens of thousands in the trenches. 10,000 coins.
ARE YOU NOT ENTERTAINED!? pic.twitter.com/kr7KkmHzVx
Pump.fun gained popularity for its ability to enable anyone to create and launch a coin quickly for a small fee.
Once a token launched on Pump.fun reaches a $69,000 market cap, it is automatically listed on the popular Solana decentralized exchange (DEX) Raydium, providing the token with immediate visibility and liquidity in the market.
Recently, the protocol waved this listing fee, instead offering a small payment to the deployer of a successful token.
Developers sought to capitalize on the attention generated by the Elon Musk and Donald Trump interview, banking on the possibility that it would translate into interest and investment in newly launched tokens.
However, according to Dune dashboard data, just 250 tokens graduated off the platform during yesterday’s swell – representing just a 1% success rate.
Over 23,000 tokens were launched over the past 24 hours, racking up a record-breaking $5 million in fees for the platform, over double its previous all-time high of $2.3 million.
This surge in activity, however, has sparked controversy among the platform’s users. Tyler Stockfield, also known as ANΦN on X, expressed frustration in response to Pump.fun’s tweet, questioning the value of the platform’s current
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