- Trending
- Comments
- Latest
Pump.fun, a Solana-based memecoin launchpad, recorded more than $1 billion in daily trading volume on Monday, marking its strongest performance to date as retail enthusiasm for memecoins surged into September.
Data from decentralized exchange Jupiter showed that Pump.fun processed $942 million in transactions on Sunday before surpassing $1.02 billion the following day. The sharp increase in Pump.fun trading volume came as the broader memecoin sector climbed to an aggregate market capitalization of $83 billion, according to CoinMarketCap.
At the time of writing, the sector’s market cap was holding above $76 billion, still well above its monthly lows and close to the $85 billion peak recorded on July 23.
“Crossing the billion-dollar threshold signals that memecoins remain one of the fastest-moving segments of digital assets,” said Lucas Outumuro, head of research at IntoTheBlock, in a note to investors. “The surge in Pump.fun trading volume reflects speculative momentum and increased liquidity in Solana’s ecosystem.”
On-chain data supports the view that Pump.fun’s growth is more than a short-term spike. According to DefiLlama, Pump.fun’s total value locked (TVL) which is a measure of the assets deposited in its smart contracts reached a record high of $334 million on Sunday.
DefiLlama data also showed Pump.fun outpacing perpetuals exchange Hyperliquid in daily revenue for two consecutive sessions, ranking third among all decentralized finance (DeFi) protocols behind stablecoin issuers Circle and Tether.
Adding to momentum, Pump.fun announced that it distributed $4 million in creator rewards on Monday, much of it going to first-time streamers using its integrated livestreaming product.
Co-founder Alon highlighted the platform’s competitive edge in streaming.
“We’ve already flipped Rumble in concurrent livestreams,” he claimed on social media, adding that Pump.fun was approaching 1% of Twitch’s market share and 10% of Kick. “We’re nibbling on their lunch,” Alon said.
However, these claims could not be independently verified by third-party analytics firms, raising questions about the accuracy of engagement data.
The spike in Pump.fun trading volume mirrors a sector-wide rally in memecoins, often seen as high-risk, community-driven bets within the crypto market.
Flagship token Dogecoin (DOGE) gained 11% over the past seven days, even after the launch of a U.S.-based Dogecoin exchange-traded fund (ETF) was delayed. Other tokens, including Memecore (M), Moo Deng (MOODENG), and DORA (DORA), also posted double-digit weekly gains.
“The memecoin sector is fueled by retail narratives and speculative trading,” said Matthew Sigel, head of digital assets research at VanEck. “Platforms like Pump.fun channel that demand, but investors should recognize the risks of extreme volatility and thin liquidity in many of these tokens.”
The recent surge in Pump.fun trading volume underscores how memecoins continue to shape liquidity flows in crypto markets. While critics argue that the sector lacks fundamental value, its ability to attract users, generate fees, and experiment with creator-driven features suggests a role in the broader DeFi ecosystem.
For investors, the key question is whether Pump.fun can sustain momentum beyond speculative cycles. Its rising TVL and revenue rankings indicate progress, but long-term success may depend on maintaining user engagement and withstanding regulatory scrutiny over high-risk tokens.
Institutional players have so far avoided direct exposure to memecoins, but growing volumes may pressure exchanges and fund managers to consider indirect participation through liquidity provision or index products.
“The big picture is that retail-driven platforms are capturing real revenue,” said Outumuro. “That changes the conversation about memecoins being just jokes — they’re becoming meaningful components of DeFi’s transaction economy.”
The billion-dollar milestone for Pump.fun trading volume highlights both opportunity and caution. On one hand, Solana’s infrastructure is proving capable of handling high transaction throughput, strengthening its position as a hub for experimentation. On the other, the speculative nature of memecoins means that sharp corrections remain a constant risk.
As September’s rally continues, all eyes will be on whether Pump.fun can hold its gains, sustain creator payouts, and expand its market share in streaming. For now, the platform’s rapid rise serves as a reminder that memecoins often dismissed as novelties remain at the heart of crypto’s unpredictable cycles.
