When did Pump Fun start digging into investors' pockets?
I admit, I am also one of the users of Pump Fun. I have bought quite a few CAs ending with 'Pump', made some profits, and also incurred losses. But strangely, I have always found it difficult to develop a good feeling for this platform.
Recently, the news of Pump Fun's financing reminded me of the frenzy surrounding OpenSea in 2021. At that time, I was chatting with friends from several family offices, and they were eager and full of interest in OpenSea's valuation of 5 billion USD.
I could understand their mindset—too much money, they look down on small projects, and they have to find a target with a 'grand narrative'. As a friend, I could only try to advise: 'Don't rush, take a look again.' Unfortunately, no one listened.
Later, OpenSea raised 300 million USD at a valuation of 13.3 billion, and now its IPO is nowhere in sight, with the NFT market barely alive. Those institutions that rushed in are probably still waiting to break even.
What about Pump Fun? It has already dug into everyone's pockets:
On-chain Degens: rushing into shitcoins every day, contributing transaction fees
Exchanges: Pump series tokens perform in rotation on BN and CB
Solana Foundation: ecosystem support, traffic boost
Now, looking around, only the primary market and traditional institutions have not been 'taken care of'.
So, this time of financing, those who understand, understand—it’s time to dig into pockets.
