PumpFun’s reported elevate at a $4 billion valuation has some members of the crypto neighborhood up in arms, however some analysts say it isn’t solely truthful, however low-cost.
After reviews surfaced that memecoin launchpad PumpFun was planning a token sale at a $4 billion valuation, social media customers had been fast to criticize the platform. Nonetheless, analysts at market intelligence agency Messari anticipate the $PUMP token to commerce at a considerably greater valuation.
Sunny Shi, also referred to as Monk on X, has revealed a report calling for a valuation of $7 billion or greater, referring to the elevate as “an incredible opportunity to own a part of the most profitable crypto application of all time.”
Within the report, Shi highlighted the success of PumpSwap and PumpFun’s impact on the Solana ecosystem as an entire. In essence, Shi considers memecoins a extra environment friendly hypothesis car than earlier iterations, reminiscent of non-fungible tokens (NFTs). “We think Pump can still put out ~$675M in revenue in two years as PumpFun retains slightly lower share within Solana and PumpSwap continues to grow. With a 10x multiple, that’s around $7B FDV in our base case,” mentioned Shi on X.
In a follow-up publish, he went as far as to say that if executed correctly, the token might attain $20 billion in the event that they incorporate an airdrop and token buyback system.
He additionally emphasised {that a} imprecise token or fairness construction might spell hassle for the token, as market members are actually hesitant to invest on tokens with poor mechanics.
Almost $700M in Income
PumpFun, which launched in Q1 2024, initially on Ethereum Layer 2 Blast after which expanded to Solana, was undoubtedly the breakout utility of 2024. The ecosystem has generated $689 million since its inception, with $350 million of that income accrued in 2025 alone.
At its peak in January, PumpFun earned an astounding $134 million in 30 days.
Whereas the memecoin house, and due to this fact PumpFun’s income, have slowed down considerably because the LIBRA memecoin scandal, Pump stays the third most worthwhile protocol in DeFi over the past yr, solely trailing stablecoin issuers Circle and Tether.
In March, the platform launched its personal automated market maker, PumpSwap, rendering Raydium, the decentralized trade (DEX) that each one PumpFun cash initially migrated to, out of date. PumpSwap has generated $111 million in charges over its three-month lifespan, with $17 million returning to PumpFun.
Half of the income earned by PumpSwap is returned to token creators, after the DEX launched income sharing in Could.
In the meantime, memes nonetheless dominate mindshare on Solana, with greater than 32% of the community’s mindshare* targeted on prime memecoins, like FARTCOIN, or memecoin infrastructure reminiscent of DEX aggregator Jupiter.
*Messari Portals are a free-to-use neighborhood useful resource that mixes quantitative information with qualitative context, giving crypto communities clear, handy entry to info that helps them make higher choices. Go to https://messari.io/portals to study extra.
