Solana-based Pump.fun Doubles Down on Memecoin Craze by Starting Mobile App as New Token Launch Hits Record
The growing number of new tokens may lead to liquidity fragmentation and decreased trader attention in any single project, CoinGecko COO said.
Feb 15, 2025, 4:48 p.m. UTC
What to know:
- Memegoin launchpad Pump.fun has launched a mobile app for iOS and Android devices, enabling users to create and trade Solana-based memecoins on the go.
- The launch of Pump.fun’s mobile app comes amid a 12-fold increase in new token launches in Jan. 2025 compared to the same period in 2024, according to CoinGecko COO Bobby Ong.
- The proliferation of new tokens may lead to liquidity fragmentation and a dilution of trader attention, potentially impacting the market’s ability to experience significant price movements, Ong said.
Memecoin generator Pump.fun has launched a mobile app for both iOS and Android devices, making its platform more accessible to users and effectively doubling down on the ongoing memecoin craze.
Pump.fun’s new mobile app has features similar to its web interface. It allows users to create their own Solana-based memecoins for free and trade existing tokens while on the go. In an announcement on Friday, the firm detailed that the app includes tools for users to manage their memecoins portfolios and create customized watchlists to monitor tokens.
The launch comes just weeks after Pump.fun was hit with a proposed class-action lawsuit accusing the firm and its executives of violations of U.S. securities laws. It also comes at a time when the ongoing memecoin trend only appears to be accelerating.
Bobby Ong, co-founder and COO of cryptocurrency data aggregator CoinGecko, has highlighted on social media that 600,000 new tokens were launched in January of this year alone, a 12-fold increase over the same period in 2024.
Ong attributes the explosion in token launches to a new monthly record to token launchpads like Pump.fun, which simplify the process of creating a token and allow its users to do so even without any technical expertise.
While it’s now easier than ever to launch new tokens, Ong also pointed out that new blockchains and decentralized exchanges are growing rapidly. At this rate, he said, there could be 1 billion tokens in circulation “in the next five years.”
The sheer number of new tokens being launched could be fragmenting available liquidity and attention. “Too many tokens, each spreading the limited attention and liquidity of traders even thinner. That’s why we don’t see the great alt pumps of previous cycles,” Ong said on social media.
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