# 2.2 Marketcap is Growing Rapidly

In the current bull market, MEMEs have become one of the most influential narratives. The total market value of these Tokens based on web3 native culture has exceeded the $60 billion mark, and this number is still rising at an alarming rate. Thousands of new MEMEs emerge in the market every day. As of October 29, the cumulative number of MEMEs created on the pump.fun platform has reached 2.77 million, and the platform has gained as much as Total revenue of $163 million.

It is particularly worth noting that on October 18, the decentralized exchange (DEX) in the Solana ecosystem recorded a total of 21.491 million on-chain transaction operations, of which related activities caused by pump.fun accounted for A proportion of about 63.3%, or about 13.604 million times. In addition, specific MEME projects such as GOAT, SUNDOG and NEIRO have achieved thousands-fold growth in value in just a few weeks, greatly attracting the attention and enthusiasm of investors.

<figure><img src="https://3477138601-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FZrHfJwSCjRoPHfPElYs7%2Fuploads%2F6JVIlQgDVY0jrFdSzymd%2Fimage.png?alt=media&#x26;token=472c1661-e205-4f03-bf9e-3562479e4fd7" alt=""><figcaption></figcaption></figure>


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