Solana-based memecoin launchpad Pump.fun is rumored to be planning a $1 billion token sale, valuing the project at $4 billion. On June. 3, a community member shared on X that a Pump.fun token launch is expected within the next two weeks.
The token will be listed on several centralized exchanges, with 10% allocated for a community airdrop. Speculation increased following a Blockworks report citing anonymous sources, said the launchpad — known for its instant token creation.
It was set to raise $1 billion through a token sale. The report also mentioned three sources who confirmed the sale could be valued at $4 billion.
Pump.fun faces criticism, hype over new token
Pump.fun has yet to confirm or deny the reports on their official channels and hasn’t shared any details about the token’s purpose or launch. Crypto influencer Ansem said he “can’t wait” for the token, highlighting its potential listing on the perpetual futures decentralized exchange Hyperliquid.
Social media influencer Ash Crypto said Pump.fun turned altcoin investors into memecoin gamblers. “Pump.fun has messed up the crypto space,” they said, adding that the platform has already taken about $700 million while most people lost money on the tokens launched.
Pump.fun hits $677M but faces token doubts
As of June. 4, data tracker DefiLlama showed that the Pump.fun protocol had generated about $677 million in total revenue. Crypto analyst Miles Deutscher said there are pros and cons to the potential Pump.fun token launch.
Further, the analyst said it’s a good way to make money if users are skilled. However, Deutscher said the token launch is ultimately bad for crypto:
Most people aren’t trenching. They just buy and hold, and have felt the indirect adverse effects of Pump Fun.
The DeFiLlama developer 0xngmi questioned the potential raise. The anonymous developer asked how the platform would invest the funds since they already have nearly $700 million sitting unused. “What are they planning to do with $1 billion?” the developer asked.
The rumored raise comes as Pump.fun’s monthly revenue takes a big hit. In May, the platform made $46.6 million, which is 66% less than the $137 million it earned in January, according to DefiLlama.
