Pump.fun Raises $500 Million in 12 Minutes with 75% Token Sale Surge

Pump.fun, a meme coin creation platform, successfully concluded its public token sale, raising an impressive $500 million. The sale, which took place on Saturday, saw all available tokens sell out within a mere 12 minutes. This rapid sellout underscores the high demand and enthusiasm surrounding the PUMP token, which is built on the Solana blockchain.

The PUMP token was offered at a price of $0.004 per unit, representing 12.5% of the total 1 trillion supply. The token's listing under the ticker PUMP on Hyperliquid saw it surge to $0.007 in pre-market trading within seconds of the sale. At the time of reporting, the token was trading at around $0.006, indicating a strong initial market response.

Pump.fun expressed gratitude to its community for their participation, highlighting the swift sellout as a testament to the platform's growing popularity. The team also looked forward to the future of Pump.fun and the broader Solana ecosystem, emphasizing the potential for further growth and innovation.

The token sale involved 125 billion tokens, priced at $0.004 each, and was open to retail investors. This rapid fundraising effort valued the project at approximately $4 billion, showcasing the significant interest and investment in the meme coin sector. The PUMP token launch was scheduled for July 12, with a fixed supply of 1 trillion tokens, of which 33% was allocated for the initial coin offering.

Of the total token supply, 33% was allocated for the token offering, with 18% already distributed in a private round and the remaining 15% intended for the public sale—though only 12.5% made it to the market this weekend, according to official details. The offering, which required KYC verification and spanned multiple exchanges, was part of Pump.fun’s bold mission to disrupt social media giants by building alternatives on Solana. Despite the rapid sellout, the team hinted at upcoming features, including potential fee rebates, buybacks, and revenue sharing with holders.

The sale arrives amid intensifying rivalry from LetsBONK, another Solana-based memecoin launchpad, which recently surpassed Pump.fun in trading volume over a seven-day stretch. The success of Pump.fun's token sale reflects the increasing trend of meme coins gaining traction in the cryptocurrency market. The platform's ability to raise such a substantial amount in a short period highlights the potential for similar projects to attract significant investment. As the Solana ecosystem continues to evolve, platforms like Pump.fun are poised to play a crucial role in driving innovation and adoption in the meme coin space.