Pump.fun’s daily fees reach $15.4M
January 27, 2025
On January 24, 2025, Pump.fun, a Solana-based meme token platform, recorded an all-time high of $15.4 million in daily fees. The surge was fueled by excitement surrounding Vine Coin, created by Vine co-founder Rus Yusupov.
Reason for the hype
Vine launched in 2012 and was soon acquired by Twitter. However, competition from Instagram, Snapchat, and YouTube led to its shutdown in 2016.
Recently, Elon Musk hinted in a post at a potential revival of Vine, which sparked interest in Vine Coin and drew attention to Pump.fun.
Over the past two weeks, Pump.fun has processed $4.16 billion in transactions. Since launch, 6.7 million tokens have been created, 2.5 million SOL paid in fees, and the number of unique addresses has reached 11.6 million. However, in December 2024, only 1.16% of tokens (14,026 out of 1.2 million) made it to the DEX Raydium, reflecting high competition.
Legal risks
In January 2025, New York-based law firm Burwick Law announced a lawsuit against Pump.fun. The case is being filed on behalf of investors who lost “significant amounts” in meme coins.