Memecoins
Moonshot Rising: DexScreener Competitor Pump.fun Already Has 7,000 Solana Meme Coins
In the fast-paced world of meme coins, a new competitor has entered the arena. DEX Screener, the popular data aggregator for decentralized exchanges, has just launched its own token launchpad called Moonshot.
And just like a real coin, competitor Pump.fun is already making waves.
Launched on Monday, Moonshot is a Solana-based platform that allows anyone to create and launch their own meme coin with minimal effort. Users can create a token with a fixed supply of 1 billion, and once investors contribute 500 SOL (around $64,000 at current prices), a liquidity pool is automatically created on the Raydium DEX.
The platform is launching during a fallow period for Solana meme coins. The Solana meme coin category is down nearly 30% over the past week and sank with the rest of the crypto market on Monday. But it is now 18% higher than this time yesterday, according to CoinGecko.
But what sets Moonshot apart is its focus on security and transparency. DEX Screener claims that its launchpad ensures that all smart contracts launched on the platform are fully audited.
Just a day after its launch, Moonshot saw an incredible 7,000 tokens created on its platform, up from a few hundred tokens just after its launch yesterday.
Of course, not all of these tokens are destined for the moon. Of the 7,000 tokens, only 27 reached the 500 SOL threshold to obtain their liquidity pool on Raydium. And of those, only a handful saw positive price action.
But that doesn’t deter Moonshot’s loyalists. The platform’s trending feed, which ranks tokens based on how close they are to a liquidity target, has quickly gained popularity.
Early Moonshot winners include familiar faces like Pepe (PEPE), up 8% in the past hour, as well as newcomers Stan (STAN), Long Horse (LONGHORSE) and Dex Mascot (EAGLE).
But Moonshot isn’t just about memes.
DEX Screener emphasized that its platform does not allow pre-sales or insider allocations, ensuring a fair launch for all. Once a token reaches the market cap of 500 SOL, Moonshot automatically burns 150-200 million tokens, creating a deflationary effect that could increase the value over time.
Moonshot also locks in all liquidity by burning LP tokens, providing an additional layer of security for investors. And with plans for frequent, verifiable audits, the platform aims to create a secure and trustworthy ecosystem for coin enthusiasts.
It is important to note that DEX Screener warned users that Moonshot does not have an official Twitter account, and to be wary of fraudsters who try to take advantage of the popularity of the platform. And as is the case with any piece of money: Do your own research and check sources before interacting with any crypto project, especially in the wild world of meme coins.
Edited by Stacy Elliott.