Solana token issuer Pump.Fun is approaching 1 million SOL in lifetime fees, having launched over 2.5 million tokens since its inception in early March.

In the past 24 hours, over 5,550 addresses have issued 7,500 tokens. Notably, Monday witnessed the issuance of 31,000 tokens, as artificial intelligence-themed memecoins, sparked by the GOAT phenomenon, gained traction again.

The active addressed have increased to 85,000, with 37,000 of these being new wallets, a clear indicator of robust demand. Furthermore, data from Lookonchain reveals that the creators of Pump are accumulating significant profits, with one fee account having sold more than $6 million in SOL, resulting in total lifetime sales exceeding $78 million or 500,000 SOL.

Pump enables anyone to create a token for just under $2, allowing users to select the token quantity, theme, and meme image. When a token's market capitalization hits $69,000, a portion of its liquidity is transferred to the Solana-based exchange Raydium and subsequently burned.

Though it operates on the Base and Blast networks, it primarily facilitates memecoin issuance on Solana, leading to substantial revenues for the project. Since launch, Pump has generated $147 million and is highlighted as one of the most lucrative crypto ventures. In April, CoinDesk projected that the service would achieve at least $66 million in revenue for the year 2024.