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Pump.fun, the viral Solana-based memecoin launcher, raised a jaw-dropping $500 million in just 12 minutes through a public sale of its PUMP token.
What’s the Scoop?
- Massive Raise: The project sold 12.5% of its 1T token supply at $0.004, implying a $4B fully diluted valuation.
- Blistering Demand: Over 10,000 wallets participated, pushing the entire allocation to sell out in under 12 minutes.
- Platform Ambitions: Pump.Fun aims to evolve from a memecoin launcher into a creator-focused platform with governance and buyback mechanics.
- Bubble Watch: Critics liken the frenzy to 2017-style ICO mania, citing bot activity and short token life cycles on the platform.
