Social media users quickly criticized the platform after Memecoin LaunchPad Pumpfun reported that it was planning to sell tokens at a $4 billion valuation. However, analysts at market intelligence company Messari hope that $Pump Token will trade at a significantly higher valuation.
Sunny Shi, also known as Monk of X, has published a report asking for a valuation of over $7 billion, referring to it as “an incredible opportunity to own some of the most profitable cryptographic applications of all time.”
In the report, SHI highlighted the success of Pumpswap and Pumpfun’s impact on the overall Solana Ecosystem. Essentially, Shi considers Memecoins to be more efficient speculative vehicles than previous iterations. “I think Pumpfun can make $675 million in revenue over two years, as Pumpfun maintains a slightly lower share within Solana and Pumpswap.
In a follow-up post, he said that if executed properly, the token could reach $20 billion if it incorporates an airdrop and token buyback system.
He also emphasized that vague tokens or equity structures could spell trouble for tokens as market participants are hesitant to speculate about tokens with poor mechanics.
Revenue is nearly $700 million
Released in the first quarter of 2024, PumpFun originally expanded to Solana with the Ethereum Layer 2 explosion, but was undoubtedly a 2024 breakout application. The ecosystem generated $350 million that occurred in 2025 alone.
At its peak in January, Pumpfun won an astounding $134 million in 30 days.
Pump Ecosystem Income – Defilama
Memecoin space, and therefore Pumpfun’s revenues have slowed significantly since the Libra Memecoin scandal, but Pump remains Defi’s third most profitable protocol last year, with only Stablecoin publishers gaining circles and tethers.
In March, the platform released Pumpswap, an automated market maker, and rendered Raydium. Raydium has abolished the decentralized exchange (DEX), which all PumpFun coins originally migrated. Pumpswap generated a $111 million fee over its three-month lifespan, with $17 million returning to Pumpfun.
After Dex began its revenue sharing in May, half of the revenue generated by Pumpswap will be returned to Token Creators.
Meanwhile, memes still dominate Solana’s mindshare, with over 32% of the network’s mindshare focusing on top memokines like Fartcoin and memocoin infrastructures like DEX aggregator Jupiter.
Solana Mindshare – Messare Portal
*Messari Portals is a free, usable community resource that combines quantitative data with qualitative context, providing transparent and convenient access to information that helps the crypto community make better decisions. For more information, please visit https://messari.io/portals.
