Pump.fun Token Smashes $2B Market Cap in Record ICO—Still Chasing Bonk’s Shadow
Another day, another crypto moonshot—but this one's got teeth. Pump.fun just joined the $2 billion club, proving memecoins still move faster than Wall Street's morning coffee orders.
ICO mania strikes again
The token launched like a SpaceX rocket, hitting nosebleed valuation territory before traditional VCs could finish their due diligence questionnaires. Yet somehow, the ghost of Bonk still haunts the top memecoin throne.
Market cap ≠ dominance
That juicy $2B figure looks great on press releases—until you realize the OG dog-themed token still laps Pump.fun in brand recognition. Nothing humbles like crypto: you can buy the market cap, but you can't buy the meme magic.
Meanwhile in TradFi land...
Bankers are still arguing about blockchain use cases while degens print nine-figure valuations between bathroom breaks. The future's unevenly distributed—and currently sitting in a meme-powered liquidity pool.
What happened on launch day?
Throughout its first day of trading, PUMP has remained fairly stable, hitting a low of $0.0049, a high of $0.0061, and is currently sitting at $0.0055. At its peak, it was trading at a 65% premium over its ICO price of $.004.
According to Dune data, this prompted 21.6% of ICO participants to sell the token via decentralized exchanges and 43.4% to transfer it out of their wallets. It’s worth noting that transferring tokens does not mean that the trader sold the tokens; moving tokens could simply mean splitting tokens among wallets.
Plus, 31.8% of public sale buyers have held their tokens, with 3.2% even acquiring more tokens post-launch.
Due to its lack of volatility, there doesn’t appear to be any big winners trading PUMP yet with the top traders, according to DEX Screener, requiring millions of dollars to make sizable profits.
As you can expect, a stream of knock-off coins were launched alongside PUMP, including the Official Pump—which is very much not official. It peaked at a $3.13 million market cap and has since crashed 74.75%.
