gm to absolutely everyone except those saying $PUMP is overvalued at $4B.

As a lifelong memecoin hater, it pains me to admit this.

But honestly, it’s probably one of the few fairly valued projects in crypto right now.

Over the past 12 months, pumpfun generated over $700M in fees.

Even post-memecoin mania, it’s still doing ~$15M/week - that’s $780M annualized.

At a $4B valuation, that’s a ~5x revenue multiple.

Compare that to public Web2 companies trading at 5–15x - and this starts looking cheap.

And this is crypto we’re talking about.

Funny how people ape into chains like $SUI at $40B with barely anything happening in the ecosystem, but then call the most profitable and viral startup in crypto history "overvalued."

Make it make sense.

Now, if pumpfun is just raising $1B to extract and cash out - sure, let's FUD them to death.

But if they’re playing the long game, evolving into a chain, exchange, or something bigger?

That could become very interesting.

Once again: owning distribution is everything.