Pump.fun, a platform within Solana's decentralized finance (DeFi) ecosystem, is gaining attention for its PUMP token, which could drive Solana's next phase of DeFi growth. Emerging in 2024, Pump.fun has distinguished itself with fair token launches and governance rights for PUMP holders. As of Q1 2025, Solana's total value locked (TVL) reached $15.2 billion, with Pump.fun capturing 3% of memecoin trading volume. PUMP's tokenomics include a deflationary burn mechanism and staking rewards, with 65% of its supply staked, indicating strong holder commitment. The platform processed over 850,000 transactions in March 2025, generating $2.8 million in fees. Analysts project PUMP's market cap could reach $1.2-1.8 billion by 2030 under moderate adoption scenarios, with potential for higher growth if adoption accelerates. However, competitive and regulatory challenges remain critical factors influencing PUMP's trajectory.