Pump.Fun is a platform in the Solana ecosystem that gives users the freedom to create meme coins for free even if they have no coding skills or capital. All you need is a Cold Wallet that can accept SOL, a profile picture for the meme coins you will create, a name idea for the meme coins, and a description.

Sounds pretty easy right?

But that's not the case, many meme coins have been created but ended up rugpull or ignored. I also recently created a meme coins but could not last long. I felt the MC (MarketCap) touched $20K, but it went back to $7K. (You can buy your meme coin as soon as you finish creating it, but this is optional)

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Live-Streaming

Pump.Fun also provides a Live Streaming feature for developers (Memecoins creators) to interact directly with buyers. Usually, they will also do certain things when the meme coins they make can reach the target they want. But increasingly here, some creators use Live-streaming to act out of bounds. Some of them even threaten buyers if they don't buy the meme coins they make.

https://x.com/astroboysoup/status/1860957789419672017
https://x.com/CoinsauceCrypto/status/1860935320809934902
https://x.com/NFTMystic1/status/1861399782046212367

Many crypto users regretted things like this. They demanded Pump.Fun to disable the Live-streaming feature. And Pump.Fun also made a statement that the Live-streaming feature will be temporarily suspended... (I haven't been able to find the official source)

https://x.com/3orovik/status/1861143859914301667

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Pump.Fun Sell Almost 1 Million SOL?

https://x.com/lookonchain/status/1861424241251590487

A few days ago the Lookonchain account tweeted about Pump.Fun selling 99,999 SOL through the Kraken Exchange. However, the tweet was corrected by a1lon9 who stated that they (Pump.Fun) only moved (deposited) SOL to the Exchange.

https://x.com/a1lon9/status/1861428667831775558

Some users also replied to a1lon9's tweet and questioned his reasoning for depositing so much SOL into Exchange without selling it (see reply to the tweet above).

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Apart from that, I also discovered some interesting facts about Pump.Fun while visiting a1lon9's X profile.

https://x.com/EasyEatsBodega/status/1861900077226401986
https://x.com/solashenone/status/1861363183711060159

A large amount of SOL is burned or locked forever every time a new token is created or when a token "graduated" (reaches the MC target set by Pump.Fun). So that's the reason why every new meme coin already has a market cap of $7k.

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That was the discussion about what happened to Pump.Fun recently. Are you more bullish on SOLANA after reading this? Or are you more pessimistic about Pump.Fun?

Thank you for visiting and taking the time to read. See you in the next post.