With success stories like popular memecoins dogwifhat and bonk, everyone wants to be the one to create the next big thing.
Creators launched nearly half a million tokens on the Solana blockchain in May, as lower barriers to entry and the desire to create a hit memecoin caught hold.
Part of the success has to be attributed to Pump.fun, a website for creating tokens with just a few clicks. By making it much easier for anyone to launch a token, it spurred the creation of many more tokens over the past few months, with Solana having seen the launch of 1.1 million new tokens so far this year.
Recently, celebrities such as Caitlyn Jenner and Iggy Azalea have launched Solana-based tokens, capitalizing on the ease with which these tokens rise in value due to their large audiences.For Solana to take the lead in the number of newly created tokens in May, it first had to overtake Base network, which has also seen high activity in recent months. In April, Base saw 240,000 new tokens, while Solana only saw 229,000.
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