Moonshot and Pump.fun Launch Updates to Boost Memecoin Market Amid 30.3% Drawdown

On June 27, Moonshot introduced a new feature called Moonshot Create, allowing users to create memecoins directly from its iOS app using Apple Pay and a photo. This update enables users to mint coins on the Solana blockchain by uploading an image and paying fees through Apple Pay. Once a coin is minted, it carries a 0.5% trading fee until it bonds, a protocol event that links the token’s supply to an on-chain liquidity curve. After bonding, the fee drops to 0.3%, and the creator can earn up to half of all swap fees from the token’s pool. Verified coins that meet key benchmarks also get added visibility in the app, appearing prominently in the discovery tab and drawing more users and liquidity.

This move by Moonshot marks a notable shift in focus, as users can now mint new tokens directly from their phones, expanding the app’s use beyond trading and buying tokens. The platform reported millions of monthly active users but did not reveal the exact revenue split for verified creators. The preferred placement is designed to increase exposure, encouraging more user participation despite declining interest in memecoins this month.

On the same day, Pump.fun rolled out updates to its mobile app, including a live feed that tracks fast-rising tokens. Users can now purchase supported tokens using one-tap functions, and a news section highlights trending tokens in real time. This launch comes a month after it introduced a new revenue-sharing model. The update includes a suite of hyper-optimized trading tools designed to enhance the speed and efficiency of memecoin trading. The update features a real-time “Movers Feed,” one-tap “Ape” execution, and a trending news dashboard, all aimed at reducing the time it takes to execute trades and stay informed about market movements.

This update comes during a slowdown in the memecoin market. Memecoins recorded the sixth-worst performance out of 24 crypto sectors over the past 30 days. Average drawdowns hit 30.3%. In contrast, other narratives like decentralized applications and tokenized real-world assets gained more attention. Moonshot and Pump.fun’s updates aim to revive user interest. Easier creation and improved visibility could help memecoins regain momentum in a cooling market.

The rivalry between Pump.fun and Moonshot highlights two distinct strategies in the memecoin market. Pump.fun's 2.0 upgrade is tailored to experienced traders who prioritize speed and efficiency, offering tools that shave precious seconds off trading times. This approach is a direct response to the fast-paced nature of Solana's meme markets, where even slight delays can result in missed opportunities. The platform's 50% fee-sharing model, introduced in May, aims to incentivize creators to stay engaged with the platform long-term, shifting the focus from quick cashouts to sustained participation.

Moonshot, on the other hand, is targeting a different demographic with its user-friendly interface and Apple Pay integration. The platform's rapid growth indicates a strong demand for memecoins that can be created and traded without the complexities of traditional cryptocurrency tools. Moonshot's acquisition by Jupiter has further bolstered its liquidity and visibility, making it a formidable competitor in the memecoin space.

Security is another key differentiator between the two platforms. While Pump.fun has made efforts to increase transparency, it still faces criticism for vulnerabilities. Moonshot, however, touts audited contracts as part of its value proposition, although critics note the lack of public proof. Both platforms face the challenge of policing the ease with which memecoins can be launched, which can lead to increased risks of fraud and market manipulation.

The battle between Pump.fun and Moonshot is not just about speed versus simplicity; it is also about financial incentives and long-term sustainability. Neither platform has fully solved the "pump-and-dump" cycle, but both are betting that their respective models can outpace the chaos and create a more stable memecoin ecosystem. Pump.fun's path to DEX listing, with a market cap threshold of $60,000, is simpler than Moonshot's 500 SOL requirement. However, Moonshot's token burns add deflationary pressure, which could theoretically benefit long-term holders.

In conclusion, the updates from Pump.fun and Moonshot represent a significant evolution in the memecoin economy. While Pump.fun focuses on enhancing trading speed and efficiency for experienced traders, Moonshot aims to democratize memecoin creation, making it accessible to a wider audience. The competition between these two platforms is likely to drive further innovation and shape the future of the memecoin market.