StonkFun Surges Past PONS in Revenue on Back of Viral Memecoin Success

The Solana-based launchpad StonkFun has been gaining traction in recent days, surpassing PONS in revenue and reaching a market capitalization of $200 million. This surge is partly driven by the success of its partnered memecoin, Anonymous Cat [ZCAT], which pays Zcash [ZEC] rewards.

The protocol's revenue acceleration has been impressive, with StonkFun generating fees of $1.355 million in the last two days, surpassing PONS' $1.21 million. These fees have been used to buy back and burn tokens, reducing the circulating supply by 13.7%.

Pump.fun, another launchpad token, has attempted to capitalize on this trend with its own custom pairs feature, but it failed to capture attention. Despite this, StonkFun's price continues to rise, trading in a strong rising trend channel and showing intense buying pressure.