The Hype Around PUMP Fades Quickly
Just one week after raising $600 million in a record-breaking ICO that sold out in 12 minutes, reality hits PUMP investors hard. The token price dropped sharply—falling more than 22% on Friday alone, now trading around $0.004, based on The Block's data.
Earlier in the week, PUMP had jumped to $0.0067 after announcing a token buyback plan worth $31.3 million. But that boost didn’t last. The token has nearly returned to its original launch price, wiping out most early gains.
This shows just how risky and unpredictable memecoins can be. Prices can rise and fall dramatically within hours.
LetsBONK Shakes Up the Memecoin Scene
While PUMP struggles, a surprise competitor, LetsBONK, is rising fast. This platform focuses on the BONK memecoin and has now beaten Pump.fun in terms of daily token creation—something no platform has done since Pump.fun launched in early 2024.
Back in January, Pump.fun was creating 1,100 new memecoins per day. Now it’s down to just 69—a 94% drop. LetsBONK has taken advantage of this fall to grab more users and attention.
Performance-wise, BONK is doing well—it’s up 64% since April, giving profits to LetsBONK investors. In contrast, PUMP is having a hard time holding onto its early success. This shows how quickly trends can change in the Solana memecoin space.
Pump.fun Tries to Fight Back
To win back users, Pump.fun’s co-founder Alon Cohen has introduced a new “community takeover” feature. This lets users revive abandoned projects and earn fees if they stay active and contribute. It’s a fresh approach to rebuild community support.
Key Takeaway
The wild ride of PUMP shows how unpredictable the memecoin market is. Big money and hype don’t always guarantee long-term success. The rise of LetsBONK also proves that in the crypto world, no one stays on top forever.
