In the past month, there has been a whirlwind of meme-centric news ranging from the return of “<a href="https://www.cryptotimes.io/2024/06/04/gamestop-shares-surge-as-roaring-kittys-investments-raise-questions/" rel="noopener noreferrer nofollow">Roaring Kitty</a>” on X to the unfortunate <a href="https://www.cryptotimes.io/2024/05/24/dogecoin-and-shiba-inu-inspired-dog-kabos-is-no-more/" rel="noopener noreferrer nofollow">passing of Kabosu</a>, the iconic dog and face of Dogecoin.
Moreover, the surprise a<a href="https://www.cryptotimes.io/2024/05/24/sec-finally-approves-ethereum-spot-etfs/" rel="noopener noreferrer nofollow">pproval of spot Ethereum ETF</a> 19b-4 by SEC has also backed up the crypto market. However, it’s the meme energy that has truly stolen the spotlight, particularly in the past week.
<a href="https://www.coingecko.com/en/categories/politifi" target="_blank" rel="noopener noreferrer nofollow">PolitiFi</a>, a new subsector featuring memecoins named after legislators, has turned into a hub for trading following former president Donald Trump’s guilty verdict in his hush-money trial. Although these tokens are not officially associated with these lawmakers, they bring tremendous excitement around them.
Additionally, some celebrities who had abandoned crypto during the market downturn have been seen jumping back on board. First was Caitlyn Jenner making headlines by<a href="https://www.cryptotimes.io/2024/05/28/jenner-clarifies-jenner-token-transition-to-ethereum/" rel="noopener noreferrer nofollow"> launching</a> her own token on pump.fun and promoting it both on X and Instagram. At first, people doubted but she confirmed this through a video post. Later she moved the token to Ethereum using fees collected to support Trump’s cause.
Rapper Iggy Azalea also joined the trend, self-releasing her $MOTHER token on Solana in <a href="https://www.cryptotimes.io/2024/05/30/iggy-azaleas-mother-coin-faces-insider-trading-scandal/" rel="noopener noreferrer nofollow">response</a> to an unsanctioned IGGY token. The revenue of pump.fun, a Solana-based memecoin launchpad, has also been boosted by the meme frenzy.
The platform has recovered from a recent $1.9 million hack that happened on May 30th with a record-breaking revenue of $1.48 million.&nbsp;
<figure class="wp-block-image">
 <img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXd9Pos3zC9U-5MZdt6Xb47aSZnw_djrg77C9YG7RBNLBb1ALbBqGpTz_bncWCg_90a0uD0nXSSJoRcskxRs3U-tRPxGy3SL8KUjp_qlgH2byLsBEdzwRU_UG7UMCP3eSO-0D6Gr11fVeMI7jiP595m73pau?key=uuOoTMMUNI3GwHk9Yo4I3A" alt="AD 4nXd9Pos3zC9U 5MZdt6Xb47aSZnw djrg77C9YG7RBNLBb1ALbBqGpTz bncWCg 90a0uD0nXSSJoRcskxRs3U tRPxGy3SL8KUjp qlgH2byLsBEdzwRU UG7UMCP3eSO 0D6Gr11fVeMI7jiP595m73pau?key=uuOoTMMUNI3GwHk9Yo4I3A">
 <figcaption>
 Chart indicating pump.fun’s current revenue | Image Source: <a href="https://defillama.com/protocol/pump?revenue=true&amp;groupBy=cumulative" target="_blank" rel="noopener noreferrer nofollow">Defiliama</a>
 </figcaption>
</figure>
This explosion indicates an increased interest in new tokens that could be the next big thing memecoin users are looking for. In its lifetime, pump.fun has raked in an impressive $31.8 million USD in revenues and is firmly established as Solana’s go-to place for token building.
It is apparent that memes and associated tokens will still be important drivers of engagement, investment, and celebrity involvement within the cryptocurrency ecosystem as it continues to evolve.

Pump.fun Hits $30M Revenue in Solana Memecoin Craze

The Crypto Times

Other articles published on Jun 4, 2024

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