Pump.fun Token Dips 22% Post-ICO as LetsBONK Surpasses in Meme Coin Minting
2025-07-19 10:41:01
Main Idea
Pump.fun's native token PUMP has dropped over 22% post-ICO, while competitor LetsBONK surpasses it in meme coin minting volumes on Solana.
Key Points
1. Pump.fun's PUMP token fell to $0.004 after a 22% drop from its peak of $0.006 post-ICO, despite raising $600 million in 12 minutes during the ICO.
2. LetsBONK, a competing platform, has overtaken Pump.fun in meme coin creation volumes on Solana, with the BONK token rising 64% since its platform's rise.
3. Pump.fun executed a buyback of 188,000 SOL ($31.3 million) to boost PUMP's price, pledging 25% of protocol revenues for ongoing buybacks.
4. Pump.fun announced its first acquisition, purchasing Kolscan to enhance analytics and social trading features on its platform.
5. Co-founder Alon Cohen introduced a 'community takeover' feature, allowing users to control abandoned projects and earn fees through contributions.
Description
Less than a week after its eagerly awaited ICO, Pump.fun’s native token, PUMP, has experienced a notable price setback. Key Takeaways: Pump.fun’s PUMP token has dropped over 22% since its ICO, trading near its initial price. LetsBONK has overtaken Pump.fun in meme coin creation volume amid a slowdown in Solana’s overall token minting. Pump.fun plans token utility upgrades, including buybacks and a “community takeover” feature to boost engagement. Once peaking above $0.006 shortly after its debut...
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