Celebrity Memecoin Craze Drives Record Revenues for Pump.fun

Solana-based platform benefits from high trade volumes as stars like Caitlyn Jenner and Iggy Azalea launch tokens.

Pump.fun, a Solana-based memecoin generator, has seen record revenues amid celebrity involvement.
Celebrities like Caitlyn Jenner and Iggy Azalea have launched their own tokens, leading to significant trade volumes.
Early adopters of these tokens have made substantial profits, though prices have since plummeted.
Pump.fun has generated nearly $28.9 million in fees since January, despite recent security issues.
Critics argue that celebrity-backed tokens are a net negative for the crypto industry, often resulting in quick cash grabs.