The favored Solana-based meme coin launchpad, Pump.enjoyable, is reportedly planning to lift $1 billion by means of a token sale that may worth the corporate at $4 billion, in line with Blockworks, citing sources conversant in the matter.
The token sale might be provided to each private and non-private buyers, with hints on social media suggesting it might launch throughout the subsequent two weeks, the outlet reported on June 3.
At a $4 billion valuation, the platform would turn out to be crypto’s newest unicorn startup in the identical yr it fuelled the meme coin frenzy.
PUMP Token Quickly?
The report didn’t specify when the launch would happen or whether or not the PUMP tokens could be out there on exchanges or simply the meme coin platform, however a publish on X prompt it might be quickly.
BREAKING: @pumpdotfun launching $PUMP token in subsequent 2 weeks.
– Airdrop for customers confirmed as nicely
It’s lastly coming.
— nextfuckingthing (@nextfckingthing) June 3, 2025
The platform has been a breakout success since launching in early 2024, permitting customers to create tokens on Solana immediately and free of charge.
It has facilitated the creation of greater than 11 million new tokens with a mixed whole income of roughly 3.3 million SOL or roughly $517 million, according to Dune Analytics.
Nevertheless, volumes have plummeted virtually 80% because the top of the meme coin frenzy in January, in line with Dune. DeFiLlama reports the same 70% hunch in each day quantity on the platform over the previous six months.
Nonetheless, Pump.enjoyable has remained aggressive by launching its personal automated market maker (AMM) to finish its partnership with Raydium, releasing a cell app, and reintroducing a dwell streaming characteristic that was beforehand suspended resulting from content material moderation points.
Meme Coin Meltdown
Most meme cash, which have been largely thought of non-functional degen speculation tokens, have collapsed since their January highs. This has additionally impacted Solana’s income and community exercise, which is primarily meme coin-based.
As high-cap cryptos present indicators of restoration, meme cash proceed to say no with giant double-digit losses for Fartcoin, Pudgy Penguins, and Popcat.
Pepe, Bonk, and Floki have been additionally within the crimson on the time of writing. In the meantime, Donald Trump’s namesake meme coin has tanked 85% from its all-time excessive in January to commerce at round $11 on the time of writing.
It’s a troublesome day for the meme class right this moment with $FARTCOIN, $PENGU, and $BONK among the many hardest hit.
Are you holding any of them?https://t.co/1sqf05lMCK pic.twitter.com/oxXGDELBJb
— CoinGecko (@coingecko) June 4, 2025
It has additionally been broadly reported that almost all of Solana-based meme cash are scams or pump and dump schemes.
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