Pump.fun Rockets to $4B Valuation After $500M Public Sale Frenzy

Memecoin launchpad Pump.fun just pulled off a nine-figure heist—legally. The platform secured $500 million in its public sale, catapulting its fully diluted valuation to a staggering $4 billion. Who said irrational exuberance was dead?

Behind the numbers: The raise signals retail's unshakable appetite for high-risk, high-reward plays—even as traditional VCs clutch their pearls. Pump.fun's model? Turn meme dreams into tradable assets with frightening efficiency.

The punchline: In a market where 'fundamentals' are often an inside joke, liquidity reigns supreme. Just don't ask about the lock-up periods.

Similarly, revenue generated via the launchpad dropped from $133 million in the first month of the year to nearly $34 million last month, according to DeFiLlama data.

While launchpad volumes plunged, Pump.fun’s decentralized exchange PumpSwap, which was launched in March, has been making up for the decline, seeing $14.3 billion of volume in May and $10 billion last month. Revenue for PumpSwap stood at $7 and $5 million for those months, per the same data source.

Adds more context throughout.