The memecoin renaissance is in full swing.
Over the past month, we’ve seen a lot of meme-driven news. Roaring Kitty, the face of the 2021 meme stock rally, is back in X. Pump.fun, a Memecoin launchpad, was exploited for $1.9 million by a former employee. The face of Dogecoin, Shiba Inu Kabos, has passed away.
Cryptocurrency markets in general have been buoyed by the surprise approval of the Ethereum ETF 19b-4 spot approval and excitement over more optimistic inflation data coming out of the US this month.
But if you zoom in on just the past week, you can see that the meme energy was quite strong. First of all, PolitiFi (political finance), a new subsector with memecoins linked to lawmakers (in name only, not official affiliation), has once again become a hotbed of trading activity following the conviction of former President Donald Trump. Quiet trial.
Perhaps the most interesting thing is that celebrities seem to be rejoining the cryptocurrency market. Many A-list celebrities seemed to have dabbled in cryptocurrencies in 2021 and 2022 during the height of the bull market, but dropped the topic once the hype died down. According to Arkham, Justin Bieber still has $450,000 worth of cryptocurrency, but he no longer posts about his BAYC on Instagram.
However, Caitlyn Jenner jumped on the scene, launching her own token on Pump.fun and promoting it on X and Instagram. Many people thought her account may have been hacked, but she posted a video that appeared to confirm that she was behind her posts. Jenner was released later. Ethereum’s tokens are also using the fees collected to support Trump. Rapper Iggy Azalea also independently launched the $MOTHER token. Solana brush
+0.15%
It’s like clapping. This is the promoter who wanted to launch the IGGY token.
Although not confirmed, the next cryptocurrency re-entrant was Katy Perry. He posted “LFG” on the Although this isn’t necessarily cryptocurrency-related, many people on crypto Twitter engaged with this post. Perry was something of a meme during her past bull days. She is best known for her infamous photo with Three Arrows co-founder Su Zhu and her “crypto toenail” nail art.
Pump.fun Increases Profits
Although Jenner appears to be the only one to have used Pump.fun for the Solana memecoin, the meme energy was transcendent. Despite being exploited about two weeks ago, Pump.fun bounced back and recorded its highest revenue on May 30, earning $1.48 million.
Similar to the last time we saw a surge in platform revenue, this indicates that users are releasing a plethora of tokens in the hopes of creating the next memecoin that generates significant revenue.
Pump.fun has generated a total of $31.8 million in revenue since launch. This isn’t particularly surprising since it’s the home of Solana’s new token. Nearly 500,000 tokens were created last month alone.
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