Solana-based Memecoin Launchpad Pump.fun is rumored to be preparing for a $1 billion token sale at a $4 billion valuation.
On June 3rd, community members posted about the pump on X. The token will be released within the next two weeks. Multiple centralized exchange lists and 10% airdrops were assigned to community members.
Speculation has been strengthened after a Blockworks report cited an anonymous source that Launchpad, known for its instant token creation feature, will raise $1 billion through token sales. The report alleged that three sources confirmed the sale was valued at $4 billion.
Pump.Fun has not yet reviewed or rejected reports for official channels and does not provide details about the token utility or launch mechanic.
Cointelegraph contacted Pump.fun but did not receive a response from the publication.
Community responds to pump.fun token rumors
The responses of the entire crypto community were mixed together.
Crypto Influencer Ansem said it “can’t wait” for the token, citing a potential list of permanent futures-dispersed exchange lipids.
Social media personality Ash Crypto said Pump.Fun has turned Altcoin investors into Memecoin gamblers. “Pumpfun ruined the crypto space,” they wrote, adding that the platform had already “extracted” $700 million, but the majority lost funds from the tokens.
As of June 4th, data aggregator Defilama showed that the Pump.Fun protocol had earned approximately $677 million in cumulative revenue.
Crypto analyst Miles Deutscher said there are good and bad aspects to potential pumps. Analysts said that if the user is skilled it’s good for making money. But Deutscher said the launch of tokens is purely bad for the crypto.
“Most people don’t have trenches. They just bought and held them and felt the indirect negative effects of pump fun.”
Defillama developer 0xngmi questioned the potential pay raise. The pseudonym developer asked how the platform would invest their funds if they were sitting at nearly $700 million that they hadn’t yet spent. “What are they going to do with 100 million?” the developer asked.
Related: “Absolute Chaos” Trump Memocoin Wallets are now inevitable that families are starting up
Token rumors come as monthly revenues fell by 66%
The rumored salary increases come amid a sharp decline in Pump.Fun’s monthly revenue. According to Defillama, the platform generated $46.6 million in May, down 66% from $137 million in January.
Rumors also came amid a slowdown in the memocoin field. Traders are questioning the long-term viability of memokine as tokens experience a sharp decline in value. CoinmarketCap data showed that the overall market capitalization of Meme-based tokens fell by $64 billion on June 4, exceeding 54% from $137 billion in December.
magazine: Memokine is ded, but despite the sharp decline in revenue, the solana ‘100x is good.”
