#MemecoinSentiment Pump.fun, a launchpad for memecoins on the Solana blockchain, has achieved a significant milestone by completing its public token sale in just 12 minutes, raising 500 billion dollars.
This record event was confirmed in a post on July 12 on X, where the team thanked its community and announced that the token is now entering its distribution phase.
The Pump.Fun token surged by 40% following its presale.
The token sale saw 12.5% of the total 1 trillion supply of PUMP tokens sold at a fixed price of 0.004 dollars. While the sale took place on multiple exchanges, it was not available to participants in the U.S. or the U.K.
Despite these restrictions, the demand for the tokens was overwhelming, with significant interest from large investors in the crypto sector.
On-chain data from the blockchain analysis platform Lookonchain revealed that prominent cryptocurrency whales quickly joined the sale.
