In the fast-paced world of meme coins, a new contender has entered the arena. DEX Screener, the popular data aggregator for decentralized exchanges, has just debuted its own token launchpad called Moonshot.

And in true meme coin fashion, the Pump.fun competitor is already making waves.

Launched on Monday, Moonshot is a Solana-based platform that allows anyone to create and launch their own meme coin with minimal effort. Users can mint a token with a fixed supply of 1 billion, and once investors pour in 500 SOL (about $64,000 at current prices), a liquidity pool is automatically created on the Raydium DEX.

The platform is launching during a fallow period for Solana meme coins. The Solana meme coin category is down nearly 30% in the past week and sank along with the rest of the crypto market on Monday. But it's now 18% higher than it was this time yesterday, according to CoinGecko.

But what sets Moonshot apart is its focus on security and transparency. DEX Screener says that its launchpad ensures that all smart contracts launched on the platform are fully audited.

Just a day after its launch, Moonshot has seen an astounding 7,000 tokens created on its platform—up from a couple of hundred tokens right after its launch yesterday.

Of course, not all of these tokens are destined for the moon. Out of the 7,000 tokens, only 27 have reached the 500 SOL threshold to get their liquidity pool on Raydium. And of those, only a handful have seen positive price action.

But that's not deterring the Moonshot faithful. The platform's trending feed, which ranks tokens by how close they are to reaching the liquidity goal, has gained popularity quickly.

Some early winners on Moonshot include familiar faces like Pepe (PEPE), up 8% in the last hour, as well as newcomers Stan (STAN), Long Horse (LONGHORSE), and Dex Mascot (EAGLE).

But Moonshot isn't just about the memes.

DEX Screener has highlighted that its platform does not allow pre-sales or insider allocations, ensuring a fair launch for all. Once a token hits the 500 SOL market cap, Moonshot automatically burns 150-200 million tokens, creating a deflationary effect that could boost value over time.

Moonshot also locks all liquidity by burning the LP tokens, providing an extra layer of security for investors. And with plans for frequent, verifiable audits, the platform aims to create a secure and trustworthy ecosystem for meme coin enthusiasts.

It's important to note that DEX Screener has cautioned users that Moonshot does not have any official Twitter accounts, and to be wary of scammers trying to take advantage of the platform's popularity. And as is standard with any meme coin: Do your own research and double-check sources before interacting with any crypto project, especially in the wild world of meme coins.

Edited by Stacy Elliott.