What Is 'Pump.fun' And How Do You Use It? The 'Meme Coin' Cryptocurrency Site Explained

The world of cryptocurrency has been notably stirred up by a single website called "Pump.fun" lately where so-called "meme coins" dominate the market.

The site is technically a decentralized exchange on the Solana (SOL) blockchain that allows users to generate meme coins for free. The ease of access has lowered the bar for the creation of such cryptocurrencies. In turn, a slew of coins that are literally enacting the Meme Economy with real capital are surfacing and going viral.

But what is Pump.fun? Who created it and why? Plus, what is a "meme coin" and how do you make one? Let's explain.

What Is 'Pump.fun?'

Pump.fun is a cryptocurrency generator and decentralized exchange on the Solana (SOL) blockchain. It allows users to launch a token for free. Like, imagine if you could launch your own spin-off of Bitcoin or Ethereum without any labor. Then, you could name it after yourself.

Alternatively, imagine if you named it after your favorite meme. The organic virality of the meme would attract investors and pump your coin's value.

Pump.fun largely caters to the creation of meme coins, evident in some of its earliest tweets. The website also operates like a social media platform.

For one, users can livestream directly on their coin's page. On TikTok LIVE, a person gets galaxies or ice cream (so good), but on Pump.fun, a streamer can make sales and receive a million-dollar evaluation. This has happened on the site already.

Who Created 'Pump.fun?'

Pump.fun's creator goes by the pseudonym Alon. His real identity is unknown, and he appears to want to keep it that way. Alon posts frequently to his Twitter / X account @a1lon9.

Despite his anonymity, Alon has hosted an Ask Me Anything on the /r/solana subreddit. He was also interviewed by YouTuber threadguy in a video from a few months ago.

When Was 'Pump.fun' Created?

Pump.fun launched on January 19th, 2024, per announcement tweets from the website. At the time, it cost a few bucks to make a coin. Pump.fun later decided to make it free.

What Is A 'Meme Coin?'

A meme coin is a cryptocurrency that bears the name and likeness of a meme. For instance, the most well-known meme coin is Dogecoin, which is based on the lovable and viral Shiba Inu named Doge (or Kabosu) who was the face of the internet throughout the 2010s and beyond.

The success of Dogecoin outlined how a cryptocurrency could survive on meme clout. However, up until the creation of Pump.fun, it was often difficult and expensive to launch tokens. That has changed though, explaining the slew of meme coins that have gone viral over the past few months.

What Are Some 'Pump.fun Meme Coins?'

The first meme coin to go viral on Pump.fun was named BILLY, based on the lesser-known Ouppy meme that combines a cute, golden retriever puppy and a Doge-like misspelling. During its first spike back in July, BILLY reached a peak market capitalization of about $117 million.

In the following months, more meme coins were minted on Pump.fun. A popular and highly interesting example is Goatseus Maximus, which went viral when a Claude AI chatbot named Truth Terminal began shilling the coin on its X meme page.

Truth Terminal boosted interest in the GOAT coin, which was launched via Pump.fun. The buzz made Truth Terminal the first AI agent to become a millionaire. The dystopian story is only compounded by the fact that "Goatseus Maximus" is a reference to the viral shock video of a similar name.

More recently – as in earlier this month – a meme coin based on the Chill Guy meme went viral on Pump.fun, appropriately named "CHILLGUY." The coin reached a peak market cap of over $461 million two months after it was created.

What Are Some Meme Coins To Buy On Pump.fun?

Discourse about the Chill Guy meme coin seems to be what has majorly sparked mainstream interest in the "get rich quick" nature of Pump.fun. Much of this interest is coming from Gen Z and even Gen Alpha traders who are making coins for brainrot memes that only their age range understands.

Because it's so easy and free to make meme coins on Pump.fun, a slew of new ones have gone viral in recent weeks. Here are a few noteworthy ones:

• Huzz — A meme coin called HUZZ recently went viral on Pump.fun, based on the Huzz slang term from TikTok. The coin reached a peak market cap close to $1 million.
• Sootcase — SOOTCASE is a Pump.fun coin that's based on a video of Barron Trump saying, "I like my sootcase" in a recently resurfaced video of him as a toddler. It reached a peak market cap of over $2.7 million this week.
• Mustard — MUSTAAAAAARD is a very recently viral Pump.fun coin which is based on rapper Kendrick Lamar screaming, "Mustard!" on his new album. This week, the coin reached a peak market cap of over $24.2 million!
• Moo Deng — MOODENG is a coin that's a little bit older (as in it's from last month) and it's based on the viral baby hippo named Moo Deng. It reached a whopping peak market cap of over $331.6 million when it was trendy.
• P'Nut — Pnut is another older coin on Pump.fun that's based on the late pet squirrel Peanut who conservative pundits turned into a martyr ahead of the 2024 election. Out of all the coins already listed, Pnut puts them to shame as it reached a peak market cap of roughly $1.1 billion.

How To Make A Meme Coin On 'Pump.fun'

To create a meme coin on Pump.fun, all you need to do is pick a name for your token, a ticker (like "CHILLGUY" or "MOODENG"), a short description, an image for your coin's logo and, that's it. Of course, you'll need to add your crypto wallet to Pump.fun before you launch anything.

Lastly, it goes without saying, but you should do some extensive research on how Pump.fun works, meme coins and crypto, in general, before venturing into the often problematic waters of meme coins and cryptocurrencies. Lots of newbies have been losing money as the craze around meme coins explodes, so don't become one of them.

For the full history of Pump.fun, be sure to check out Know Your Meme's entry for even more information.