CDS Crypto News Crypto News – Memecoins Surge on Dexscreener’s New Moonshot Rival, Pump.fun

Crypto News

Crypto News – Memecoins Surge on Dexscreener’s New Moonshot Rival, Pump.fun

Ecem EFE25/06/20241 Mins read298

Crypto News - Memecoins Surge On Dexscreener'S New Moonshot Rival, Pump.fun

Crypto News – Dexscreener Unleashes Moonshot Competitor Pump.fun as Memecoins Flood In

Crypto News- On June 24, crypto data platform Dexscreener unveiled its own Pump.fun competitor, Moonshot, which has quickly become inundated with memecoins. Moonshot allows users to create their own tokens on the Solana blockchain, following a similar model to Pump.fun but with some unique features and a slightly different user experience.

Table of Contents

Easy Token Creation

Users can connect their wallets to Moonshot and mint their own tokens for a fee of around 0.02 SOL, equivalent to Pump.fun’s cost. By entering a name, symbol, and image, and optionally adding social media links, users can launch their tokens. If a token achieves a market cap of 500 SOL (about $68,000), it gets migrated to the decentralized exchange Raydium, and 150 to 200 million tokens are burned.

Memecoin Influx

As expected, Moonshot has already seen a surge of memecoins, from politically themed tokens to those inspired by viral videos. Although the platform claims to be audited, it has not provided detailed information on the audit. It also boasts that the tokens are unruggable and free from pre-sales or insider involvement. However, the creator of a token has the initial opportunity to buy it and can sell it at any time.

Competition with Pump.fun

Given Pump.fun’s success and its solid user base within the Solana community, it’s not surprising that new projects like Moonshot are emerging as competitors. Since March, Pump.fun has generated over $40 million in revenue, indicating the high demand and potential profitability of such platforms.

Conclusion

Dexscreener’s launch of Moonshot signifies an ongoing trend of decentralized token creation platforms vying for dominance in the crypto space. With its initial success and a flood of memecoins, Moonshot aims to carve out its niche alongside established players like Pump.fun.

Moonshot FAQ

What is Moonshot?

Moonshot is a new platform launched by Dexscreener on June 24, designed for users to create and launch their own tokens on the Solana blockchain. It operates similarly to Pump.fun but offers a slightly different user experience and unique features.

For more up-to-date crypto news, you can follow Crypto Data Space.

Previous post Breaking Crypto News - Memecoins vs. Bearish Trends: Memecoins' Surprising Double-Digit Growth

Crypto Whales Meme Coin Holdings Amid Market Volatility

Next post PEPE and SHIB Transfers: Significant Moves in the Crypto Market

Written by

Ecem EFE

Since 2022, Ecem has been creating digital content, combining her passion for technology with writing. Continuing her education in the Mathematics department, Ecem focuses on producing in-depth content on areas such as blockchain, artificial intelligence, and cryptocurrency. She aims to simplify these topics and present them to a wide audience, sharing valuable insights into the crypto industry through her writing. With her innovative content, she strives to raise awareness in the digital world.