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$PUMP nosedived 34% in 24 hours, now trading at $0.0037, and faces brutal sell-offs as early backers dump billions, sparking fears of a deeper plunge.
Pump.fun’s flagship token once soared after a record $500M ICO, but whale exits and fading momentum now threaten its meme empire.$PUMP
From Meme Launchpad to Ecosystem Powerhouse
Following its record-breaking Pump token launch in July—one of the largest ICOs of the year—Pump.fun has solidified its position as a major player in the meme token space.#BTRPreTGE
The initial offering sold $500 million worth of Pump kens, indicating strong investor interest. However, this rapid success was just the beginning.
Shortly after the ICO, major centralized exchanges like Kraken and Bybit listed $PUMP, driving trading volumes to an astonishing $5.08 billion within the first 24 hours.#CryptoMarket4T
Yet, the launch was not without controversy. Critics accused whales of hoarding the token, leading to extreme price volatility. In response, Pump.fun moved swiftly to stabilize the market, spending $18 million to buy back 3.04 billion tokens in an effort to curb speculation and restore confidence.#StablecoinLaw
As a Solana-based meme token launchpad, Pump.fun has evolved far beyond its initial purpose. Known for its one-click token minting, the platform has attracted millions of users looking to capitalize on the meme coin frenzy.#Write2Earn
Since its 2024 debut, it has generated over $700 million in revenue, creating viral tokens such as Dogwifhat ($WIF), Fartcoin ($FARTCOIN), and MOONPIG. To date, more than 11 million tokens have been created on the platform.
Expanding its reach, Pump.fun recently launched PumpSwap, a decentralized exchange (DEX) dedicated to ‘graduated’ meme tokens—those with enough liquidity to sustain deeper markets.
