Pump.fun Launches Mobile App Amid Memecoin Frenzy, Faces Legal Scrutiny

Pump.fun, a memecoin generator, launched a mobile app for iOS and Android devices on Friday, making Solana-based memecoin creation and trading more accessible. The app mirrors the web interface, offering portfolio management and customized watchlists. This launch follows a proposed class-action lawsuit against Pump.fun for alleged U.S. securities law violations. CoinGecko COO Bobby Ong noted that 600,000 new tokens launched in January alone, a 12-fold increase year-over-year, attributing this surge to platforms like Pump.fun simplifying token creation. Ong predicts a potential circulation of 1 billion tokens within five years, given the rapid growth of new blockchains and decentralized exchanges.