Pump.fun Token Surges 4.5% After Coinbase Listing

The Solana (SOL)-based memecoin platform, Pump.fun (PUMP), has received a significant boost following its recent listing on the top US-based crypto exchange by trading volume. The platform, which allows users to create and trade original memecoins without the need for coding, has seen a surge in popularity and value. Pump.fun claims to have launched over 11 million tokens and generated $700 million in revenue since its inception in 2024. The platform's unique model rewards early buyers of new coins and facilitates the transition of memecoins to decentralized exchange (DEX) trading once certain milestones are achieved.

The listing on Coinbase marks a significant milestone for Pump.fun, as it is now available for trading on the exchange's platform, including its website and mobile applications. Coinbase customers can now buy, sell, convert, send, receive, or store PUMP tokens, which are labeled as experimental. This move is expected to increase the visibility and accessibility of Pump.fun, potentially attracting more users and investors to the platform.

Pump.fun recently completed one of the fastest-selling initial coin offerings (ICOs) to date, with its public sale selling out in just 12 minutes. The tokens sold through the Pump.fun website and participating crypto exchanges will be transferred to buyers within 48 to 72 hours after the sale, becoming tradable and transferable once the protocol confirms the process is complete. The distribution of PUMP tokens is carefully allocated, with 33% of the maximum supply of 1 trillion tokens sold in the ICO, 24% reserved for community and ecosystem initiatives, 20% allocated for the team, 13% for existing investors, 2.4% for the ecosystem fund, 2% for the foundation, 3% for livestreaming, and 2.6% for liquidity and exchanges.

The announcement of the Coinbase listing has had an immediate impact on the value of Pump.fun, with the token's price increasing by 4.5% in the last 24 hours, reaching $0.00568 at the time of writing. This price surge reflects the market's positive response to the listing and the potential for increased liquidity and trading volume on Coinbase. The platform's innovative approach to memecoin creation and trading, combined with its recent success in the ICO market, positions Pump.fun as a promising player in the crypto space. As the platform continues to grow and evolve, it will be interesting to see how it navigates the competitive landscape and capitalizes on the opportunities presented by its listing on Coinbase.