Pump.fun, one of the leading meme coin launch platforms on #Solana , returned to platform X after a 24-hour suspension, raising concerns within the meme community. The revival of Pump.fun and its founder's accounts on platform X comes after increased scrutiny on meme coins, with developers and investors expressing their concerns about the long-term sustainability of Solana's meme ecosystem.
Solana meme coin platforms face suspension and backlash
The short suspension of the account #pump on platform X coincided with a broader crackdown on cryptocurrency-related accounts. Platform X suspended nearly 20 accounts, including several projects based on Solana. According to sources, the platform attributed the suspensions to rule violations related to bot activity and unauthorized use of APIs. While Pump.fun and its founder, Alon Cohen, have returned to operation, other accounts like ElizaOS remain disabled.
Pump.fun has not issued an official statement regarding the suspension. After the platform's restoration, its account on X posted an image of the project's logo and a brief comment. This minor rebound did not end speculation about whether the suspensions were technical or related to potential regulatory pressure on meme coin activity.
Amid these developments, Pump.fun continued to face criticism. James Wynn, a high-risk trader, publicly claimed that the platform is damaging the meme coin culture and creating new scams. Critics have also expressed concern that Pump.fun contributed to network congestion on Solana and a liquidity shortage in more established projects.
Market data shows the resilience of Solana meme coins
Despite recent market fluctuations, the Solana meme coin industry remains active. According to CoinGecko data, the market cap chart on June 18, 2025, shows that leading meme coins like Official Trump ($1.87 billion), Fartcoin ($1.08 billion), and Bonk ($1.07 billion) continue to dominate the market. Other notable tokens include dogwifhat ($771 million) and Pudgy Penguins ($574 million).
The majority of major Solana meme cryptocurrencies saw a strong rise in April, with a slight correction in June. Smaller coins like Bobcat and Dog (Bitcoin) showed greater expansion potential, while lower-tier projects like Peanut Squirrel and Gigachad continue to attract niche communities. The ability of the Solana meme market to maintain liquidity and attract attention, despite notable scandals and technical interventions, underscores its resilience.
Related: Meme coin madness: Fartcoin leads the Pump.fun platform surge with a trading volume of $62.42 million