Pump.fun has created more than 1 million Meme coins on the platform since its launch

According to data compiled by Subin An, a data analyst at crypto venture capital firm Hashed, more than 1 million Meme coins have been created on Pump.fun, a crypto project based on the Solana and Blast blockchains, since its launch in January, Bloomberg reports.Pump.fun, the preferred venue for retail investors to create and trade Meme coins, has growing popularity, bringing in over $50 million in estimated revenue in just six months.

According to Alon, the site's design was inspired by the simplicity of 4chan, as Pump.fun's original target market was people who were already using 4chan. Pump.fun has also recently attracted the attention of celebrities including rapper Iggy Azalea, who launched a token called MOTHER on Pump.fun.Alon said Pump.fun is also influenced by SocialFi platforms such as Friend.tech, which are seen as the cryptocurrency space's answer to X and other social media giants in response.