Crypto data platform Dexscreener has launched Moonshot, a new platform that competes directly with Pump.fun and has already seen a surge in memecoin creations.
Memecoins Flock to Moonshot
Moonshot allows users to mint their own tokens on the Solana blockchain at a cost of approximately 0.02 SOL, similar to Pump.fun.
The process involves connecting a wallet, adding a token name, symbol, image, and optional social media links.
Once a token reaches a market cap of 500 SOL (about $68,000), it is moved to the decentralized exchange Raydium and 150 to 200 million tokens are burned.
Since its launch, Moonshot has been flooded with memecoins ranging from political tokens to viral video-themed ones.
Claiming to be regulated, the platform assures users that their tokens are uncontrollable without pre-sale or insider involvement.
Moonshot's arrival is part of a broader trend of new projects trying to replicate the success of Pump.fun, which has built a significant following within the Solana community and has generated over $40 million in revenue since March.
Despite the platform's assurances, Moonshot does not provide detailed information about its audit and leaves some questions about security and transparency unanswered.
*This is not investment advice.