#MemecoinSentiment

DIY memecoin platform Pump.fun raises $600 million in 12 minutes.

In a week when Bitcoin set a fresh record high, the crypto crowd reminded everyone it still has a strong taste for absurd and irreverent coins with zero utility.

On Saturday, Pump.fun—a Solana-based platform that lets users create their own custom memecoins—raised a jaw-dropping $600 million in just 12 minutes during a public token sale, according to Bloomberg. That figure brings the platform’s total raise to a staggering $1.32 billion, after already offloading 180 billion tokens to private investors at the same $0.004-per-token price.

The sale ranks among the largest initial coin offerings (ICOs) in crypto history.

Pump.fun announced the deal on X (formerly Twitter) on July 9, while adding that investors from the U.S. and U.K. were not eligible—presumably to avoid regulatory drama, despite the White House’s leniency toward the industry and President Donald Trump’s own involvement with memecoins.

Founded in 2024 by Alon Cohen, Noah Tweedale, and Dylan Kerler, Pump.fun has become a memecoin factory and revenue machine. The platform has reportedly generated nearly $800 million in revenue since its launch by allowing retail traders to spin up and trade joke tokens on a whim.

Memecoins—crypto tokens often themed around memes, famous people, or internet inside jokes—have continued to attract speculative cash despite their often limited utility and tendency to plummet in price. The Official Trump coin (TRUMP), for example, has recently been trading near yearly lows.