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06/10 17:29

Pump.fun Plans Massive Token Sale Despite Revenue

Pump.fun Plans Massive Token Sale Despite Revenue Drop

Rumors are intensifying around Solana-based meme coin platform Pump.fun, which is reportedly preparing a $1 billion token sale at a $4 billion valuation, although the team has yet to publicly confirm any details.

A June 3 post on X by a community member suggested that the token could launch within weeks, with an exchange listing and a 10% airdrop for the community. Blockworks later cited anonymous sources supporting the claim, saying the sale would value the platform at $4 billion. Despite the hype, Pump.fun has remained silent.

The speculation comes as Pump.fun continues to generate mixed reactions. While some users are enthusiastic, others are skeptical. Influencer “ Ansem ” expressed interest, noting a possible listing on Hyperliquid, while “ Ash Crypto ” criticized the platform for fueling gambling with meme tokens and noted that many users are losing money despite the protocol generating nearly $700 million in revenue.

DefiLlama data shows that Pump.fun has raised about $677 million so far. But revenue is on the decline, with May seeing a 66% drop from its January peak, signaling a broader cooling of the meme coin craze. Meanwhile, the total market cap of meme tokens has collapsed from $137 billion to $64 billion since December.

Analyst Miles Deutscher pointed out that while experienced users could benefit from the token launch, the broader impact could be detrimental due to risks that many users are not fully aware of. DeFiLlama developer 0xngmi questioned the logic of raising $1 billion when the platform already has hundreds of millions.

Without an official statement from Pump.fun, the crypto community is speculating whether the rumors of this move are part of a well-thought-out expansion or an exaggerated attempt at hype during a market downturn.

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