Pump.fun token cracks $3bn market cap, co-founder says it’s ‘nibbling the lunch’ of Rumble and Kick

15d ago•

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The livestream feature that nearly killed Pump.fun is now helping to power its comeback.

On Sunday, Pump.fun’s native PUMP token crossed a $3 billion market cap for the first time, less than two months after an initial coin offering that raised nearly $600 million in just 12 minutes.

“We’re nibbling on their lunch and coming for more,” co-founder Alon Cohen wrote on X, claiming the platform has already surpassed livestreaming rival Rumble in concurrent livestreams and is closing in on Kick.

But livestream count isn’t the standard metric. Most platforms are evaluated by concurrent viewers, which are harder to manipulate.

In the past week, Rumble averaged 79,000 concurrent viewers, while Kick and market leader Twitch logged 719,000 and over 2 million, respectively, according to Streams Charts data.

Pump.fun doesn’t publish equivalent data and isn’t tracked on Streams Charts, making its claims difficult to verify. Cohen did not immediately respond to a request for comment on the platform’s viewer numbers.

The platform’s resurgence is also being driven by a new creator revenue-sharing program which began in May, which allocates 50% of PumpSwap revenue directly to coin creators.

Pump.fun is a Solana-based launchpad that lets users spin up and trade memecoins with just a few clicks.

It introduced a controversial livestreaming feature last year as a tool for coin creators to pitch tokens in real time, but it quickly spiraled into chaos.

Streams were suspended in November 2024 after users performed stunts, threatened pets, and faked suicides. Pump.fun quietly started reviving the livestream feature in April with updated guidelines and policies.