The Solana-based memecoin platform Pump.fun is at the center of fresh speculation as community members hint at a possible $1 billion token sale, potentially valuing the project at $4 billion.
On June 3, a post on X suggested the platform could release a token within two weeks, accompanied by listings on various centralized exchanges and a 10% community airdrop.
The rumors gained traction after Blockworks reported, citing unnamed insiders, that Pump.fun — known for its user-friendly token creation tools — is preparing for a major token sale. The report indicated that three sources confirmed plans for a $1 billion raise at a $4 billion valuation.
As of now, Pump.fun has not issued any official comment regarding the alleged token launch or its potential utility and structure.
Mixed Reactions from the Crypto Community
The broader crypto community is divided over the rumored developments.
Influencer Ansem expressed enthusiasm about the token, especially its possible debut on decentralized perpetuals exchange Hyperliquid.
In contrast, Ash Crypto criticized the platform, claiming it’s pushed investors toward gambling behavior in the memecoin market. “PumpFun has damaged the crypto ecosystem,” they posted, accusing it of generating $700 million in revenue while many participants suffered losses.
According to DefiLlama, Pump.fun has accumulated approximately $677 million in revenue as of June 4.
Analyst Miles Deutscher offered a balanced view, noting that while experienced users could profit, the overall impact of a token might be negative for the industry. “Most people just buy and hold without understanding the risks, and that’s where the harm lies,” he noted.
Developer 0xngmi, affiliated with DefiLlama, questioned the rationale behind raising $1 billion. They pointed out the platform already holds a large treasury and asked, “What’s the plan for all that capital?”
Token Talk Follows Major Revenue Drop
The speculation comes at a time when Pump.fun’s earnings are slipping. May’s revenue was just $46.6 million, a significant drop from the $137 million recorded in January — marking a 66% decline, according to DefiLlama.
This downturn reflects broader concerns in the memecoin sector. With meme token values plummeting, questions have emerged about their sustainability. CoinMarketCap data shows the total market cap for meme tokens fell to $64 billion on June 4 — more than 50% lower than December’s $137 billion peak.
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