PumpSwap Smashes $100M TVL Barrier as Memecoin Mania Roars Back

Memecoin launchpads are back with a vengeance—and PumpSwap just crossed the nine-figure threshold. The platform’s total value locked (TVL) surged past $100 million this week, riding the latest wave of degenerate gambling... sorry, ’retail investor enthusiasm.’

Why now? Blame the usual suspects: bored traders, FOMO cycles, and that one crypto influencer who won’t stop posting frog memes. PumpSwap’s no-frills launchpad model lets projects spin up tokens faster than a VC can say ’narrative-driven asset.’

But here’s the kicker: this resurgence comes despite (or because of?) Bitcoin’s recent sideways action. When blue chips stall, the degens play. Just don’t ask what happens when the music stops—Wall Street’s algo-traders certainly aren’t watching.

Volume boom

Launched on March 19, PumpSwap was designed to provide a native trading venue for tokens graduating from Pump.fun’s launchpad.

The platform has seen near-continuous growth in daily activity, with cumulative trading volume exceeding $18 billion to date.

Daily volumes have rarely dipped below $500 million in May, and the exchange hit a high of nearly 500,000 daily active wallets on May 5, according to Dune Analytics data.

PumpSwap’s rise coincides with a notable uptick in recurring user activity and daily swap volume, indicating sustained engagement.

The growth comes after a period of stagnation earlier this year, triggered in part by a scandal involving Argentine President Javier Milei and a Libra memecoin that plummeted after a promotional post on his official X account.

Memecoin resurgence

Despite high-profile dismissals from industry figures, the memecoin sector is mounting a comeback, with blue-chip tokens posting significant gains over the past week.

Every one of the top 10 memecoins by market cap is up double digits on the week, with PENGU surging 230% over the past month and Pepe leading weekly gains with over 40% growth.

Pump.fun, once dismissed after a wave of rug pulls and pump-and-dump accusations, now finds its DEX thriving amid this unexpected revival.

Despite the resurgence, nearly 99% of Pump.fun launched memecoins continue to fail, with a vast percentage exhibiting fraudulent behavior.

However, the influx of users and capital suggests that the speculative appetite in crypto’s most chaotic corner remains far from extinguished.