Pump.Fun Metrics Shatter All-Time Highs Again

Memecoin launchpad Pump.Fun is surpassing its all-time highs yet again, in what has been a common occurrence in 2024.

Daily active addresses reached 78,000 on Oct. 17, a 20% increase from its previous local high of 65,000 on July 31. The number of tokens launched in a single day also broke to new highs on Oct 14 with 25,000 unique memecoins created, a 22% increase from its previous high of 20,400 on August 13.

As a result, Pump.Fun is back in the top 5 revenue generators with $7.3 million in revenue over the last seven days, according to DeFiLlama. Pump.Fun is currently generating more revenue than its parent network, Solana, which earned $6.2 million in the same period.

The current spike in activity is a combination of the market’s increasing risk appetite as Bitcoin approaches $69,000, as well as a flurry of attention surrounding the $GOAT memecoin.

$GOAT, now above a $400 million market capitalization, has spawned an entire “AI meta” within the memecoin space, leading to mass deployments and trades on Pump.Fun. The parabolic price action makes $GOAT the highest-valued token to be birthed on the launchpad, surpassing $MICHI, which previously reached $208 million.

Pump.Fun took to social media to celebrate the victory and said, “It seems like each week is getting crazier and crazier, with AIs, robots and other kinds of "innovative tech" taking over. Most importantly, a new king has been crowned: $GOAT.”