Pump.fun reportedly launches token sale worth one billion dollars

The popular meme token launch platform, Pump.fun, reportedly plans to raise one billion dollars through a token sale that would value the company at four billion dollars, according to Blockworks, citing sources familiar with the matter.

The token sale will be offered to both public and private investors, and hints on social media suggest it could be launched within the next two weeks.

With a valuation of 4 billion dollars, the platform would become the latest crypto unicorn startup in the same year it sparked a meme token frenzy.

The report did not specify when the launch would occur or whether the tokens would be available on exchanges or only on its own platform, but a post on X suggests it could be soon.

The platform has achieved significant success since its launch in early 2024, allowing users to create tokens on Solana instantly and for free.

It has enabled the creation of over 11 million new tokens with total revenue of approximately 517 million dollars, according to Dune Analytics.

However, volumes have fallen nearly 80 percent since the peak of the meme frenzy in January, Dune reports. DeFiLlama reports a similar decline in daily volume on the platform of 70 percent over the past six months.

Despite this, Pump.fun has remained competitive by launching its own automated market maker (AMM) to end its partnership with Raydium, releasing a mobile app, and reintroducing a live transfer feature that had previously been suspended due to content moderation issues.

Most meme tokens, which were largely considered speculative tokens, have crashed from their all-time highs in January. This has also affected Solana’s revenue and network activity.

Following the news, most meme tokens recorded double-digit losses. Meanwhile, the eponymous meme token Donald Trump has fallen by 85 percent from its peak in January and is currently trading around 11 dollars.