Pump.fun has raised 500 million dollars in just 12 minutes through an ICO, achieving a fully diluted valuation of 4 billion dollars despite a challenging market.
The PUMP token saw an immediate increase of +75% after the ICO, reaching 0.007 before stabilizing around 0.006.
Behind the apparent success, Pump.fun’s activity has been sharply declining since January, while PumpSwap tries to offset this drop with strong volumes and revenues.
Une ICO éclair qui propulse Pump.fun à 4 milliards de valorisation
Twelve minutes. That’s all it took for Pump.fun to raise 500 million dollars.
Launched on July 12, 2025, the memecoin launcher’s ICO based on Solana sold out all 125 billion available tokens at a price of $0.004 each. Resulting in a fully diluted valuation of 4 billion dollars. An extraordinary performance in a volatile and selective market.
The purchased tokens are distributed with a slight delay (48 to 72 hours), but remain locked until the distribution operation is finalized. No trades, no resale possible before the official smart contract green light is published by the team (Solana address: pumpCmXqMfr…Dfn). Pump.fun warns against the counterfeit tokens already circulating.
Un token très attendu… malgré un timing discutable
This public sale represented 12.5% of the total supply of 1 trillion tokens. Initially meant to cover 15%, the project adjusted due to reasons likely to preserve the upward momentum. Remember, 18% of the supply had already been sold during private sales.
The rest of the allocation is as follows:
– 20% for the team,
– 24% for the community and incentives,
– 13% for existing investors,
– 5% for liquidity and ecosystem funds,
– the remaining balance for the foundation and streaming incentives.
A tokenomics design typical of web3, but leaving little room for small holders in the short term and sadly reminiscent of most tokens that have faced difficulties.
Le token PUMP explose… avant de reculer
As expected, the PUMP token soared immediately upon circulation. Priced at $0.004 during the ICO, it surged to $0.007 in the first hours of trading, a 75% increase. It currently stabilizes around $0.006.
The post-ICO euphoria is real… yet fragile.
La réalité derrière les chiffres : Pump.fun est en perte de vitesse
This spectacular ICO hides a more troubling trend: Pump.fun’s activity has been sharply declining since January.
According to DeFiLlama, the monthly volume of its launching platform dropped from $11.6 billion at the beginning of 2025 to just $3.65 billion last month. Similarly, revenue went from $133 million in January to $34 million in June. A free fall that could explain this aggressive ICO timing.
PumpSwap: la nouvelle locomotive du projet ?
Launched in March, Pump.fun’s in-house DEX, PumpSwap, tries to counterbalance this activity decline.
With $14.3 billion in volume in May and $10 billion in June, the internal trading platform seems attractive. Its revenues ($7 million in May, $5 million in June) help keep the Pump machine afloat. But will it be enough?
Un pari hautement spéculatif
Pump.fun revolutionized the minting of memecoins in one click, achieving viral success earlier this year. But the hype fades, and the market becomes more demanding, with many criticisms regarding the largest value extractor in the market.
Despite the lightning-fast raise, the real test begins now: token delivery, post-launch dynamics, and above all, resilience against competition.
