Meme Coin Market Booms as PumpFun Surpasses $1 Billion in Trading Volume

The meteoric rise of PumpFun (PUMP), a Solana (SOL)-based meme coin launchpad, underscores growing bullish sentiment in the meme coin market. As confirmed by Cointelegraph, PumpFun's daily trading volume surged past $1 billion on Monday, marking a significant milestone for the platform and its role in driving the broader meme coin market's momentum.

Unprecedented Trading Volume Growth

PumpFun's trading volume has experienced exponential growth in recent days, signaling increased investor confidence and activity. Data from decentralized exchange Jupiter (JUP) recorded $942 million in trading volume on Sunday, which catapulted to $1.02 billion on Monday. This milestone underscores PumpFun’s resilience in navigating an increasingly dynamic crypto landscape.

Accompanying this rise is the overall expansion of the meme coin market, which saw its total market capitalization grow to $83 billion on Sunday—the highest level in 30 days—before stabilizing above the $80 billion threshold on Monday. At the time of writing, the meme coin market’s total capitalization stands at $76 billion, solidifying its position as a major sector in the cryptocurrency industry.

The $83 billion peak approaches the July 23 spike of $85 billion, highlighting the cyclical yet renewed interest in meme coins.

PumpFun’s Strong Performance in DeFi Metrics

PumpFun’s activity within decentralized finance (DeFi) further validates its standing in the crypto ecosystem. According to DeFi aggregator DeFiLlama, PumpFun’s total value locked (TVL) exceeded $334 million on Sunday for the first time—a key indicator of the platform’s growing utility and adoption among users.

Furthermore, PumpFun maintained its position as the third-highest-performing DeFi protocol in terms of 24-hour revenue for two consecutive days, surpassing derivatives exchange HyperLiquid (HYPE). Stablecoin giants Circle and Tether (USDT) continue to lead this revenue chart, but PumpFun’s consistent growth underscores its rising influence within the highly competitive DeFi market.

Diversifying with Livestreaming Products

PumpFun’s strategy extends beyond trading and DeFi metrics; the platform is actively expanding into the livestreaming domain. On Monday, PumpFun distributed $4 million in creator rewards, channeling significant resources toward its pioneering content creators.

Industry leaders like Alon have spoken highly of PumpFun’s efforts. Alon revealed that the platform’s average concurrent viewership in live-streaming recently outperformed Rumble and captured 1% of Twitch’s market share while claiming 10% of Kick's audience share. "We’re starting to take bites out of their lunch,” Alon said confidently.

Although Alon’s claims have yet to be verified by independent third-party data platforms, they exemplify the narrative of PumpFun’s aggressive growth strategy within a rapidly diversifying blockchain space.

Meme Coin Market Sentiment Rebounds Strongly

PumpFun’s success reflects broader optimism and recovering sentiment among investors within the meme coin market. Market leader Dogecoin (DOGE) demonstrated resilience by posting Friday gains despite delays in the approval of meme coin exchange-traded funds (ETFs) in the United States. Over the past seven days, Dogecoin has climbed approximately 11%, according to CoinMarketCap.

The renewed enthusiasm is not limited to legacy players like Dogecoin. Emerging tokens such as Memecore (M), Moodeng (MOODENG), and Dora (DORA) similarly posted double-digit gains last week, showcasing a surge in activity across the entire meme coin sector. This upward momentum affirms that meme coins continue to attract investors seeking high-growth opportunities even amidst broader market uncertainties.

Conclusion

The substantial trading volume increase for PumpFun, partnered with its strong DeFi performance and innovative livestreaming initiatives, positions the platform as a leader in the rapidly evolving meme coin market. Combined with broader gains in meme coin capitalization and the rising value of prominent tokens like Dogecoin, the sector demonstrates robust resilience and ongoing investor interest.

As the meme coin market continues to mature, platforms like PumpFun are set to play an integral role in shaping its future. Investors looking to diversify within the cryptocurrency space are undoubtedly keeping a close eye on this promising ecosystem.