📍Pump.fun post-ICO – where does the growth come from?

📌 Before ICO: Dominated Solana with 80–95% market share, revenue ~730M USD thanks to the No-Code Meme Factory model.

📌 ICO: Raised 600M USD in 12 minutes, listing price was 50% higher but quickly dropped to ~$0.0022.

📌 Competition: LetsBonk.fun briefly surpassed due to UX & incentives, but a wash trading scandal caused users to return to Pumpfun.

📌 Challenge: The buyback model is effective while memecoins are still hot; if it fades, PUMP needs new utility to remain sustainable. $PUMP