meme coin The market seems poised to survive a period of declining popularity. It is noteworthy that the increase in activity occurred at the same time as activity on a website linked to meme tokens. Here are the details of its mobility on a platform that stands out in this regard.
Pump.fun eliminates the technical hurdles usually associated with launching a cryptocurrency. Users can design meme coins with a name, ticker symbol, and image for a minimal fee, without the need for advanced technical knowledge or pre-existing liquidity.
The platform even includes safeguards against rug-pulling, a notorious problem in the meme coin space. Each token featured and launched on Pump.fun automatically applies a binding curve for trading, where users directly influence the price by buying and selling.
Once a token reaches a certain market value, a portion of the liquidity is deposited into a decentralized exchange and permanently locked, preventing developers from manipulating the token value.
This user-friendly approach has been a key to success for Pump.fun. The platform surpassed $5 million in revenue within just two months of launch. Its daily earnings peaked in early April, coinciding with the peak of meme coin popularity. Although revenue decreased later in the month as interest in the assets waned, Pump.fun continued to generate steady daily revenue in excess of $120,000.
As Koinfinans.com reported, recent developments point to a potential second wind for meme coins. Renewed activity on Pump.fun indicates an increase in asset allocations and continued interest in the sector.
On the other hand, the GMCI MEME index, a benchmark that tracks the performance of meme coins, showed a positive change. Following a decline in mid-April, the index climbed above 300 last week, signaling a potential recovery in memecoin valuations.
