According to an analysis by user Newton Einstein on the social media platform X, as of August 10, approximately 1.7 million tokens have been launched on the Solana ecosystem meme coin issuance platform pump.fun, of which only 23,800 have successfully been deployed to the DeFi protocol Raydium, resulting in a success rate of 1.4%.
Furthermore, among these approximately 1.7 million pump.fun tokens, only 141 have been listed on the cryptocurrency information platform CoinGecko, yielding a listing rate of 0.008%; only 41 have maintained a market capitalization above $1 million for multiple weeks, accounting for 0.002%; and only 15 have sustained a market capitalization above $10 million for multiple weeks, representing 0.001%.
Source: Newton Einstein
Pump.fun allows anyone to quickly deploy their own meme coin at a low cost, requiring only a name, code, and JPG image, without the need for any initial funding, as liquidity pool funds are raised from the community. When a token’s market capitalization successfully reaches a certain threshold, liquidity will be automatically deposited into Raydium, and LP tokens will be burned. Despite only a few tokens being successfully launched, these tokens have generated considerable fee revenue for pump.fun.
Pump.fun once sparked a trend among overseas celebrities, who created and promoted their own tokens using their likenesses, but most of these celebrity coins later experienced significant declines. Ethereum founder Vitalik Buterin has publicly criticized this behavior.