PUMP Token Launch: Jump In or Watch from the Sidelines?
Yesterday, Sesame Open Door unexpectedly leaked the pre-sale information for Pump.FUN, instantly igniting the crypto community. Today, Brother K will take everyone through whether this token launch can really take off.
The pre-sale will start on July 12 at 22:00 and end on July 15 at 22:00, with a price of $0.004. The plan is to raise $600 million, accounting for 15% of the total token supply, which calculates to a fully diluted market cap of up to $4 billion.
First, let's look at the risks. A $4 billion valuation is not low. In comparison to HYPE, which earns $2 million a day, most of which is used for buybacks, PUMP only generates a daily revenue of $900,000, and the token's utility is still unclear. Additionally, the SOL Meme market landscape has changed, with BonkFUN launching 20,000 Memecoins daily and generating over $1 million in revenue, far surpassing PUMP, and public sentiment towards the Pump platform is not very favorable.
Of course, due to the high interest, if the token's utility is good and the market cap is reasonable, it is not completely out of the question to consider. This pre-sale is expected to siphon off $600 million, which may trigger a vampiric effect in the altcoin market. Moreover, BONK and BONKFUN as competitors may take the opportunity to pump their prices, so keep an eye on that.
