The Solana-based launchpad for memecoins Pump.fun reportedly plans to sell $1 billion worth of tokens at a valuation of $4 billion.
On June 3, 2016, a member of the community posted On X, there was a discussion about a token called Pump.fun that would be launched within two weeks. The token will appear on several centralized exchanges with a 10% Airdrop for community members.
After a Blockworks, speculation intensified report citing anonymous sources saying the launchpad — known for its instant token creation feature — would raise $1 billion through a token sale. Three sources were quoted in the report as having confirmed that this sale will be worth $4 billion.
Pump.fun does not confirm or deny these reports through its official channels, and it hasn’t provided any information regarding the token utility or launch mechanics.
Cointelegraph contacted Pump.fun, but did not receive a reply by the time of publication.
The community responds to the Pump.fun Token Rumors
Crypto community reactions were mixed.
Crypto influencer Ansem said He “can’t wait” The token’s potential listing at the Hyperliquid decentralized futures perpetual exchange was cited as a reason for its popularity.
Ash Crypto is a social media personality. said Pump.fun has turned altcoins investors into memecoin gambling enthusiasts. “PumpFun has ruined crypto space,” The platform was already in place, they added. “extracted” Seven hundred million dollars, but the majority of tokens lost money.
As of the June 4th, data aggregator DefiLlama showed Pump.fun had a revenue total of $677 million.
Crypto analyst Miles Deutscher said Pump.fun’s potential token launch has both a positive and negative side. Analyst said that if the users have skills, it is a good way to make money. Deutscher, however, said that the launch of tokens is bad news for cryptocurrency:
“Most people aren’t trenching. They just buy and hold, and have felt the indirect adverse effects of Pump Fun.”
DefiLlama’s developer 0xngmi questioned this potential increase. The anonymous developer questioned the potential raise. “What are they planning to do with 1bn?,” The developer asked.
Related: Trump memecoin wallet in ‘absolute chaos’ as family org unaware of launch
The rumors of tokens come in the wake of a monthly revenue drop by 66%
It is believed that the Pump.fun platform has seen a significant decline in its monthly revenue. In May, Pump.fun generated only $46.6 million dollars, down from $137.6 million in January. according DefiLlama is a DefiLlama.
These rumors came at a time when the space for memecoins was slowing down. The traders have been questioning the long-term viability Memecoins are experiencing a sharp drop in their value. CoinMarketCap showed that overall market cap for tokens based on memes had dropped by $64 billion to $137 billion in December.
Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
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Source: cointelegraph.com
