Meme Coin Pump.fun's "PUMP" Token Sells Out Instantly, Raising $500 Million

Pump.fun, a meme coin issuance platform based on Solana (SOL), announced on the 12th that its proprietary token 'PUMP' sold out within just 12 minutes of the public sale commencement. This rapid sell-out underscores the continued high interest from investors in meme coins. During this sale, Pump.fun raised approximately $500 million (about 73.6 billion yen), with around 10,145 wallets participating. Despite the quick sell-out, the token pricing and the quantity offered meant that the sale fell short of its $600 million target, achieving only $500 million.