Next Year, Can Pump.fun Tell a New Story?
Pump.fun remains a dominant meme coin launchpad, yet faces challenges in realizing its broader vision. While its core business is resilient, generating significant daily revenue even in a bear market, its foray into creator-driven tokens via streaming has largely struggled. The isolated success of @onlybagwork demonstrated potential—achieving viral events and substantial creator fees without token sales—but no subsequent creator tokens have sustained similar momentum. Most trend toward zero due to unclear value propositions and reputational risks for creators.
Key issues for 2026 include designing sustainable incentive structures for creators, managing token unlocks, and expanding multi-chain via the Padre acquisition. The platform’s brand aligns with speculation and meme culture, making ventures into areas like ICM (initial community offerings) less natural fits. However, opportunities exist in iGaming or mobile expansion, which could leverage Pump’s user base and drive mainstream adoption.
Despite market skepticism around long-term revenue and product execution, Pump’s low valuation multiple and aggressive token buybacks highlight potential upside. Success hinges on focusing its strategy—whether in streaming, gaming, or mobile—to attract non-crypto-native users and creators.
深潮12/17 10:36
