Pump.fun Allegedly Initiating $1B Token Offering Amid Meme Coin Collapse

Solana-based meme coin launchpad, Pump.fun, is reportedly planning a $1 billion token sale that would put the company's valuation at $4 billion. The token sale, suggested to launch within two weeks, will be available to both public and private investors.

Despite the platform's success since its 2024 launch, facilitating the creation of more than 11 million new tokens and generating revenue of approximately $517 million, recent months have seen an almost 80% drop in volumes. This is attributed to the downturn of most meme coins, with the majority allegedly being scams or pump and dump schemes.

Nevertheless, Pump.fun has maintained competitiveness by launching an automated market maker, mobile app, and reintroducing a live streaming feature.