Pump.fun market cap, explained: what the number counts and how far it moves

Pump.fun market cap is calculated as the coin's current price times its total supply of 1 billion tokens. On the bonding curve that works out to (30 + real SOL in the curve)² ÷ 32.19, in SOL. A new coin starts near 28 SOL of market cap and graduates near 411 SOL.

Market cap is not money invested, not what anyone could sell for, and not the SOL in the curve. It is a price written in a bigger unit.

Where does the formula come from?

On the bonding curve the price is the curve's SOL reserve divided by its token reserve, both including the virtual amounts the curve starts with. The 30 in the formula is the starting virtual SOL; 32.19 billion is the curve's constant k, with the billions cancelling against the 1 billion supply.

A coin about to graduate has 85 real SOL in its curve, so it sits at (115)² ÷ 32.19, about 411 SOL. Every dollar figure you see is one of these SOL figures multiplied by the SOL price.

The 1 billion includes tokens still sitting in the curve, unsold, and the roughly 206.9 million reserved for the pool at graduation. Early in a coin's life most of the supply is in no buyer's wallet. Strictly, the figure is closer to a fully diluted valuation than a circulating market cap.

Could holders actually sell for the market cap?

No. At 10 SOL of real buys a coin shows about 50 SOL of market cap, but only 268 million tokens are in wallets, worth about 13 SOL at the current price. They could not even sell for that, because selling pushes the price back down the curve.

Because market cap grows with the square of the virtual SOL, the net SOL needed to double it depends on where the coin starts. The table shows net buying, meaning buys minus sells, needed to reach common dollar levels on the curve.

How much SOL does it take to double a coin?

Doubling from $10k to $20k takes about 19 SOL of net buying on the curve. After graduation the coin trades in a plain pool that starts with about 85 SOL, and doubling a constant-product pool's price takes its SOL reserve up by a factor of √2, about 35 SOL.

Coins get harder to move as they grow, which is why the big multiples happen early and the risk is concentrated there too. At $10k, about 16 SOL of net buying sits in the curve, and a single wallet holding a large share of the supply can sell enough to take most of it back out.

• Different SOL price. The SOL figure is the same everywhere; the dollar figure depends on which SOL/USD feed each site uses and when it last updated.
• Last trade vs current state. Some displays use the price of the last trade, others the curve's current reserves. On a fast coin those differ by several percent between two refreshes.
• FDV vs circulating. Some sites label total supply × price as FDV and show a separate, smaller "market cap" from circulating supply. pump.fun's number counts all 1 billion tokens.
• Burned supply. If holders burn tokens, sites that subtract burns show a lower supply and market cap than sites that do not.

None of these is a mistake; they are different definitions. When you compare coins or set alerts, pick one source and stay with it.

Market cap is most useful as a common scale. Instead of writing "bought at 0.0000123", write "bought at $14k, plan to sell half at $28k, out if it loses $10k." Those levels translate directly into multiples and stay comparable from coin to coin; what market cap to buy a memecoin at covers choosing them.

1. 1

   Note the entry market cap, not just the price

   It tells you where on the curve you are and how much SOL sits under you.

2. 2

   Convert targets into net SOL

   Use the table above. A target that needs another 40 SOL of net buying is a different bet from one that needs 5.

3. 3

   Check who holds the supply

   A $30k coin where five wallets hold 40% can lose most of its market cap in a few sells. See the token safety checks.

4. 4

   Size against the depth

   Your own buy moves the market cap too. On a $7.5k coin a 1 SOL buy moves the price about 5%.

On a Fullport account the same numbers drive your fills. Every order is priced from a fresh read of the coin's curve or pool, so buying at $10k with size that moves the price fills you above $10k, and the receipt shows it. Orders that would move the price more than 15% are rejected; the fill policy lists every cost.

Your cost is capped at the one-time fee of $120 to $300: trading losses come out of the simulated balance, never your wallet. The rules set a +6% target and a single 4% floor, and funded payouts send you 80% of profit in SOL. Trade from the browser terminal or with Fullport Tap on pump.fun itself.