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.

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

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