Pump.fun Raises $600 Million in 12 Minutes, Memecoin Demand Surges

Pump.fun, a memecoin platform, successfully concluded its public sale of PUMP tokens, raising an impressive $600 million in just 12 minutes. The swift sellout underscores the intense demand and enthusiasm surrounding the PUMP token, which is expected to unlock within 48 to 72 hours. The public sale, which opened across several exchanges and launchpads, including Bitget and KuCoin, saw buyers from the United States and United Kingdom excluded due to regulatory restrictions. Despite these limitations, demand for the tokens surpassed available supply, leading to a swift sellout before the scheduled end date of July 15.

The sale of 150 billion tokens at a fixed price of $0.004 each highlights the significant market interest and the platform's potential for future growth. The fully diluted valuation of Pump.fun stands at $4 billion, reflecting the substantial investment attracted by the platform. This remarkable achievement positions Pump.fun as a key player in the memecoin ecosystem, demonstrating its ability to attract substantial investment and capitalize on the growing interest in memecoins.

The token unlock, expected within 48 to 72 hours, will allow users who participated in the sale to access and claim their purchased tokens. Major platforms involved in the offering have published instructions for this process, ensuring a smooth transition for investors. The swift sellout and the platform's fully diluted valuation of $4 billion indicate a strong market response and potential for future growth in the memecoin sector.