Breaking news: Coinbase personally intervenes; why has the Pump.fun token PUMP been labeled as 'experimental'?

Just last night, the world's largest compliant exchange, Coinbase, suddenly announced that it would officially list the native token PUMP of the Pump.fun platform on its Layer 2 network Base, and unusually added the 'experimental asset' label. This move instantly ignited the market—PUMP's price soared over 300% in just 3 hours, with trading volume exceeding $500 million, and on-chain data showed that several whale addresses bought over 1 million PUMP in a single transaction.

What's even more intriguing is that the SEC has yet to make any regulatory statement regarding Pump.fun or the PUMP token, while Coinbase's 'experimental' label seems to imply some risk warning. Is this yet another 'compliance test' by Coinbase for the meme coin market, or is there a deeper institutional layout behind it?

Zhuque deep dive: The three main drivers behind PUMP's surge

Coinbase endorsement effect

As the first Pump.fun token launched on the Base network, PUMP directly received liquidity support from Coinbase. Base, as an Ethereum Layer 2 solution, currently has a TVL exceeding $3 billion, and the addition of PUMP may attract more retail and institutional funds into the meme coin track.

Explosive growth of the Pump.fun platform

As a 'decentralized launchpad' in the Solana ecosystem, Pump.fun has helped over 100,000 meme coin projects launch, with daily trading volume surpassing $1 billion. PUMP, as its native token, essentially serves as the 'governance + fee discount' certificate for the platform, and as the platform ecosystem expands, the demand for PUMP will naturally increase.

The 'FOMO battle' between whales and retail investors

On-chain data shows that multiple suspected institutional addresses continued to increase their positions after the PUMP price broke through $0.01, while retail investors rushed into exchanges to buy. This combination of 'institutional lockup + retail speculation' often leads to violent short-term price fluctuations.

Risk Warning: SEC silence = tacit approval? Don't forget the historical lessons of 'meme coin harvesters'!

Although the PUMP surge is fierce, as a senior analyst, I must remind investors: the explosive growth of meme coins often comes with extremely high risks!

Regulatory shadow still looms: The SEC has previously investigated several meme coin projects. Although PUMP has not yet been affected, once regulation tightens, the price may collapse instantly.
Liquidity trap: Most meme coins on the Pump.fun platform have a very short lifespan. Although PUMP, as the platform token, has certain support, its value will significantly decline if platform traffic decreases.
Whale selling signal: Some on-chain data indicates that addresses that participated in the early PUMP private placement have begun to gradually cash out. If the price continues to surge, it may trigger a chain reaction of selling.
Where are the profit opportunities? Zhuque provides 'PUMP trading strategies'

Short-term players:

Watch for resistance at the $0.03-$0.05 range for PUMP. If it breaks through, you can enter with a small position, but be sure to set a stop loss of 5%-10%.
Beware of the 'false breakout' trap; after Coinbase goes live, there is usually a 'pump and dump' market.
Long-term holders:

If PUMP can stabilize above $0.05 and maintain a daily trading volume of over $100 million, it can be considered a 'new leader in meme coins', but close attention should be paid to SEC developments.
High-risk enthusiasts:

You can position for PUMP perpetual contracts, betting on increased volatility, but avoid high leverage.
5. Will history repeat itself? Will PUMP be the next SHIB or the next LUNA?

Looking back at the explosive paths of meme coins over the past two years:

SHIB: Soared thousands of times thanks to Musk's 'shout-out', but ultimately became a 'whale game'.
DOGE: Survived to this day thanks to community consensus, but price fluctuations remain severe.
LUNA: Once a star of 'algorithmic stablecoins', ultimately collapsed to zero due to leverage.
The fate of PUMP will depend on two points:

Whether it can shake off the label of a 'flash in the pan' meme coin and establish real application scenarios;

Whether the SEC will suddenly intervene and categorize it as a 'security'.


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