Revenue Slips, But Pump.fun Seeks $1B Raise

Pump.fun allegedly readies a $1B token sale at a $4B valuation, stoking memecoin hype amid dropping protocol revenue.

Pump.fun may be on the verge of a $1 billion token sale, at least that’s the rumor swirling around. According to sources cited by Blockworks, the memecoin launchpad is eyeballing a $4 billion valuation for the potential token. 

That’s a lot of zeroes for a platform that built its reputation letting anyone spin up new Solana tokens instantly, fueling a flurry of questionable altcoins.

Truth is, memecoin mania helped Pump.fun rake in nearly $700 million in cumulative revenue, per on-chain data. But it’s not all sunshine and roses. Protocol revenue tanked 66% from January’s high to May’s $46.6 million.

And critics say the app’s “wild west” approach to token creation has left plenty of bag-holders in the dust. So maybe a big capital raise is just the shot in the arm they need to stoke new hype.

Some in the community see it as a chance for easy gains. Others worry a giant token sale just extracts more money from retail dreamers. As always, the official pump.fun channels are silent. No confirmations, no denials, just a cryptic X post teasing “big news” in a couple of weeks. 

A possible 10% airdrop is also in the mix, apparently going to community members. Good luck guessing how they’ll define “community.” 

And the timing sucks: user interest in memecoins is sliding. The overall meme market cap is down over 50% from last December. Not the perfect backdrop for a once-blistering launchpad. But maybe Pump.fun knows something the rest don’t.

Until there’s an official statement, it’s all rumor. Yet if they truly do plan a $1B raise at a $4B token valuation, the next few weeks could be interesting. Or face-planting. 

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