Artificial intelligence (AI) generated tokens are taking over the memecoin narrative, breathing new life into Pump.fun.
After a tumultuous end to 2024 marked by controversies, these fresh token launches have helped the platform recover, boosting its metrics and steering it toward renewed success.
The novel concept of attaching an AI bot to a cryptocurrency and its marketing is the latest trend on Solana’s memecoin marketplace, Pump.fun, and they are seemingly keeping the controversial platform afloat following major changes to the platform, namely the removal of its unhinged live streaming feature.
Whilst this initially hurt the platform’s overall metrics, which saw declines across revenues, token launches, and trading volumes, AI-driven cryptos have now taken precedence as the platform’s new-found success story narrative.
AI-powered tokens have now surpassed a market cap of $10 billion and currently hold sturdy 24-hour trading volumes of $1.8 billion.
Memecoins drove Solana network trading volumes through the roof in 2024, with Pump.fun token activity accounting for more than half of all transactions from Aug. 2024 to today.
As per DeFiLlama, Pump.fun earned $80.32 million in revenues throughout December 2024, which is barely down from its November high of $93.88 million.
The current trend of memecoin projects “lead by AI” could prove fruitful for memecoin traders and AI technologies overall.
However, whether or not such novelties can sustain themselves remains yet to be seen.
There are projects such as Goatseus Maximus that appear to have no end or clear goal and exist purely to prove that they can.
New projects such as ai16z (AI16Z) hold more promise. Created by Eliza Labs, which is building operating systems for AI Agents, ai16z is an AI investment DAO-driven parody of venture capital firm Andreessen Horowitz, aka a16z.
It is currently the leading AI memecoin by volume and market cap and has—so far—pledged to pioneer AI DAOs where “AI agents serve as the catalysts for value creation and growth.”
This latest wave of innovation in the Pump.fun memecoin space could be a solid boost for the platform, which continues to dominate Solana network metrics.