Moonshot Memecoin Trading App Gains Traction

Moonshot broke its single-day on-ramp record twice over the last week and is now the 151st-ranked app in Apple’s finance category.

Users can fund their accounts for trading Solana memecoins through retail-friendly payment methods such as Apple Pay or a deposit from a bank account. The app features a simple interface with referral bonuses and “free memes,” which some users are calling “Robinhood 2.0.”

MoonPay acts as Moonshot’s on-ramp and its official partner. Cash balances on Moonshot are held in USDC, and each profile automatically generates a non-custodial Solana wallet, which can be exported.

Activity and attention on the app picked up after the most recent viral memecoin, $MOODENG, appreciated 125x from its Moonshot listing and is now trading at a $292 million valuation.

Other tokens on Moonshot that have done well include PESTO, which is up 20x from its listing on Sept. 20, and MANYU, which is up 40x in the same amount of time.

Moonshot is not a launchpad platform like Pump.Fun, but acts similarly to a centralized exchange (CEX) where it lists tokens that fit its internal criteria. However, unlike a CEX, users maintain full control over their private keys.