Pump.fun ICO Sells Out $500M in 12 Minutes, Revives Memecoins
Pump.fun ICO sold out in 12 minutes on Solana, raising $500 million for its PUMP token. The PUMP token has a maximum supply of 1 trillion, with 33% allocated to the ICO—18% for institutional investors and 15% for retail traders. The project reserved 24% of tokens for ecosystem development and 13% for early backers.
The rapid token sale highlights a resurgence in memecoin projects and initial coin offerings after a downturn in early 2024. On-chain data reveals strong demand from automated bots alongside genuine traders. Dragonfly’s Haseeb Qureshi called the Pump.fun ICO one of the largest revenue-generating ICOs, forecasting significant fee-based income. In contrast, Mary Bent warned of high speculative risks for younger investors, and Coinbase’s Conor Grogan flagged concerns over bot-driven token creation.
Pump.fun ICO success reflects renewed crypto funding activity on Solana, signaling potential price volatility for PUMP token. Traders should monitor on-chain performance and profit-taking dynamics amid growing memecoin momentum.
Bullish
Pump.fun ICO’s record sale creates immediate buying pressure on PUMP token, likely driving short-term price gains. The strong demand and significant fundraising on Solana indicate renewed market confidence in memecoin offerings. However, the high token supply and potential profit-taking or bot-driven sell-offs could introduce volatility. Over time, the ecosystem reserves and revenue model may support token utility, sustaining longer-term bullish momentum if executed effectively. Traders should balance aggressive entry with risk management amid speculative sentiment.