PANews reported on November 7 that according to The Block, driven by the AI concept and meme coin craze, Pump.fun hit a new monthly revenue record of $30.5 million in October, an increase of 111% from the previous month and surpassing the highest record of $28.64 million set in July. This growth reversed the previous trend of an average decline of 29% for two consecutive months.
The main factors contributing to this growth are the meme coin craze represented by MOODENG and the popularity of the concept of "AI Metaverse". Multiple Pump.fun tokens are "supported" by AI agent accounts on the X platform. Among them, the GOAT token "supported" by the @truth_terminal account had a market value of US$920 million on October 24, setting a record for the platform. In addition, the market values of AI concept tokens such as GNON, fartcoin and ACT also reached US$190 million, US$83 million and US$74 million respectively.
Although the popularity of AI and meme coins has declined, with the prices of many coins falling by more than 50% from their peak, the market's interest in emerging meme coins remains unabated. For example, PNUT coin once reached a market value of US$130 million thanks to the topic of internet celebrity squirrel P'nut.
