Pump.fun app launch fuels Solana rally and meme token frenzy
Pump.fun app launch fuels Solana rally
Pump.fun, a leading platform for on-chain meme token creation, has officially launched its long-awaited mobile app, sparking a wave of new activity in the crypto space.
The app, available on iOS and Android, saw over 50,000 downloads on Google Play within the first hour of release, despite early reports of technical flaws and mixed user reviews, according to the Cryptopolitan.
Meme token mania and Solana’s rebound
The app’s launch comes amid a growing trend of mobile-driven crypto adoption, allowing users to create and trade tokens with greater ease. Within hours of the release, meme token traders rushed to capitalize on the new platform, minting assets they claimed to be the first ever launched via mobile.
The excitement extended beyond Pump.fun itself, as Solana (SOL), the blockchain powering the platform, experienced a price boost. SOL climbed back above $200, solidifying its position as the fifth-largest cryptocurrency by market capitalization.
However, controversy emerged when traders discovered that the app’s promotional material contained leaked wallet addresses and tokens. These assets, which included a revived version of the defunct Antshares (NEO) brand, saw dramatic price swings as speculators rushed in. On-chain analysts linked many of these tokens to platform developers, fueling speculation about insider activity.
Despite the success of its app launch, Pump.fun remains inaccessible to UK users due to regulatory restrictions. Meanwhile, the platform continues to generate significant fees, surpassing $7.5 million in a single day. The launch reaffirms the market’s appetite for speculative meme assets, even as concerns over rapid price manipulation persist.
Recently, Pump.fun co-founder Alon denied rumors of a token launch and IPO, calling the reports “wrong.” He urged users to ignore unofficial news after leaked documents claimed plans for a 420 million token issuance.
