Pump and We.Rich drive the public to issue tokens. What are the steps to create a MEME with a market value of over 100 million?
Does the emergence of Pump class products mean that players can turn from being the chives to becoming the sickle?Author: Frank, PANews
In the bull market where no one takes over, the Meme coin sector has entered a new phase—everyone is issuing coins.
Since April 18, the number of tokens issued daily on the Solana chain has exceeded 10,000, and the Base chain has also maintained over 2,000 trading pairs launched daily for several consecutive days. The main reason for this surge in token issuance is the explosive growth of one-click token issuance tools represented by Pump.
Pump rises to create a wave of public token issuance
Pump.fun is a meme coin issuance tool and social platform primarily targeting the Solana chain. It allows users to deploy and issue tokens at a very low cost (0.02 SOL) without any development experience. Since its launch in January 2024, it has cumulatively issued over 460,000 tokens. As of May 9, Pump's cumulative revenue has exceeded $17 million (charging a 1% transaction fee).
Although there have been many one-click token issuance products in the industry before, few have achieved the popularity of Pump. For ordinary users, Pump's main advantages include:
- The token issuance process is so simple that it can be completed in under a minute. To issue a token on Pump, users only need to upload an image, choose a name, and write a brief introduction. The entire process is extremely simple, and users cannot adjust settings such as issuance quantity and token ownership.
No LP pool fees. Compared to previous one-click token issuance products, ordinary users generally have to pay a certain deployment cost, with the main cost being the funds staked in the trading pool. Pump has innovated in this area by not requiring users to inject their own funds into the liquidity pool at the initial deployment. Instead, it automatically sets up an LP pool of about $60,000. As the number of buyers increases, once the market value reaches $60,000, all buying funds will be automatically injected into the LP pool and listed on Rayium Swap. This allows some projects to truly have a relatively stable liquidity pool once their market value exceeds $60,000, rather than relying on the founder's self-discipline and moral standards.
Social interaction features concentrate the sediment of Meme culture. For many Meme coins, the most troublesome issue for players may be understanding the community situation and discussion heat around the project (which usually requires actively searching for communities). On Pump, a feature similar to a message board has been set up, allowing discussions about the coin to be preserved. This enables newcomers to quickly understand the progress of the Meme coin.
Can everyone turn into "scissors"?
In addition to Pump's active performance on Solana, similar products have begun to appear on other chains. For example, We.Rich and FriendTech on the Base chain have more features and UI optimizations based on Pump, such as keeping token prices extremely low and limited minting during the early fair launch phase. Although the current issuance quantity and active users still have a significant gap compared to Pump, the emergence of this project on the Base chain, which also has a huge Meme market, may create a new battlefield for Meme coins.
In addition, many AI-integrated products essentially provide similar one-click token issuance functions. For example, Spectral, which just released an airdrop plan, uses a GPT-like text dialogue tool to write contract code. However, compared to the one-click token issuance function, there is still a significant difference in convenience.
Does the emergence of Pump-like products mean that players can turn from being "leeks" to "scissors"? Experiments by PANews have found that while Pump simplifies the token issuance process and costs to a minimum, it may be difficult to realize the dream of a hundredfold token. For ordinary users, token issuance usually only attracts a few automated trading bots, which quickly buy and sell a few times before going silent. Most tokens issued on Pump are in this state, and very few exceed a market value of $60,000 daily.
For issuers, these passing players will quickly take away liquidity, leaving only the founder's buying funds in the pool. While it may not result in significant losses, there is still a long way to go for those aiming for profitability.
How to create a Meme with a market value of over 100 million
In fact, there are indeed many successful cases on Pump. The top-ranked Meme coins also include tokens with a market value exceeding $100 million. A typical example is the two "cat kings": michi and Shark Cat.
Next, PANews will analyze how these Meme coins with a market value of over 100 million were born based on several high-market-value cases.
The journey of the two cat kings
Michi is currently the highest market value Meme coin on Pump, with a market value of $186 million, created on April 8.
Shark Cat has a market value of about $160 million, created on March 26.
Timing:
First, the timing and theme of these two tokens have become the foundational conditions for achieving high market values. The period from late March to early April coincided with the popularity of the "cat vs. dog" theme in the Meme sector, during which people on the Solana chain liked to look for various cat and dog-themed Memes for speculation. Both of these tokens belong to the Cat camp, perfectly aligning with the hottest theme at the time.
Community:
In addition to the timing being right, the community foundation is also very important. Research by PANews has found that the top-ranked Meme coins almost all share a characteristic: the initiators are not unknown individuals.
For example, the founder of michi, psykø (@psykogem), is an experienced Meme coin player and KOL, with 4,700 followers on X, and is very active on both X and Telegram, maintaining a high reading volume for his tweets. Before michi was launched, he had also preheated several times on social media.
The founder of Shark Cat is also a KOL named 0xWinged (@0xWinged), who had successfully issued the CopyCat project before launching Shark Cat, achieving good results. His personal follower count on X also exceeds 10,000.
Hype Ability:
Of course, having a certain number of followers alone does not guarantee that the token issuance will succeed easily. The topicality during the issuance process is also an important element driving price speculation. The founder of michi played the sincerity card; at the early stage of issuance, he personally purchased 40 SOL worth of michi tokens and burned them. This action helped michi quickly reach the $60,000 market value curve progress bar and gave newcomers a sense of "I did it first; you can do as you please." This also instilled confidence in many people regarding the token's development. Ultimately, psykø earned over $2.5 million through this bold move.
Subsequently, during michi's development, psykø continued to hype the token through methods such as airdropping 1%; advertising in Times Square, New York; and paying artists to create related meme materials.
0xWinged adopted a different approach when issuing Shark Cat, using a Space event on X. Most early buyers were attracted to enter through this Space.
Funding:
The Meme frenzy has never been a one-person show. The real support for price increases relies on funding. The third-ranked project by market value on Pump is called TEH EPIK DUCK (EPIK). Within half an hour of its initial issuance, a user with the address GE4LX5DcEAfgVD1MZ1ahiUJboL3G3X4yuh2gcRytjvL5 directly purchased 30 SOL worth of EPIK tokens, fully filling the token's curve progress. This user ultimately profited 1,369 SOL from EPIK. Although we cannot know why this user dared to go all in at the beginning, their trading records show that on April 3, they had purchased several similar-themed little duck tokens, each time investing over 10 SOL. This coincidence may contain the funding strategy behind bulk Meme speculation. Similar large speculators also appeared in the early trading of other high-market-value projects.
Through the above analysis, we may glimpse some necessary elements in the hype process of popular Meme coins: materials, community, hype ability, and funding. These four elements are indispensable for the success of a Meme coin. While not every Meme coin needs to be a quadrilateral warrior, it at least needs to have certain strengths in several aspects to compensate for deficiencies in others.
Risk warning
Risk warning
