Meme coin platform Pump.fun raised $600 million in just 12 minutes, one of the largest initial coin offerings in history, highlighting the growing popularity of meme coins.
Pump.fun announced plans to sell 150 billion tokens at $0.004 each, after previously selling 180 billion tokens at the same price to private investors.
Co-Founder Alon Cohen confirmed the $600 million raised in the public sale, totaling $1.32 billion, with U.S. and U.K. investors excluded.
While some had initial concerns about the impact on the meme coin market, others noted the quick shifts in sentiment within the crypto space, as meme coins rely heavily on social media trends.