#MemecoinSentiment Brief Essay: The Euphoria of Memecoins and the Mirror of the Crypto Market

The success of Pump.fun in raising $600 million in just 12 minutes reflects the extraordinary euphoria currently sweeping the memecoin market. Even though only ~15% of the total token supply was sold, the diluted valuation reached $4 billion—a fantastic number for a project without strong fundamentals. This indicates that most investors today are no longer seeking utility, but are more driven by speculation, community, and the thrill of 'going along with the crowd'.

This phenomenon also reflects a cultural shift in the crypto world. Memecoins are now seen not merely as digital assets, but as expressions of internet culture: humorous, easily viral, and anti-establishment. Investors are willing to pour in large amounts of money for the potential of quick profits, even while knowing that the risks of losses are also very high. This shows that the crypto market is being driven by narratives, emotions, and communities, not just by financial logic.

However, behind that enthusiasm lies a warning of potential bubbles. When money flows heavily into projects built on hype rather than on foundations, the risk of a brutal correction becomes real. Pump.fun is a reflection of the spirit of the times—full of passion, but also fragile.