Raydium unveils LaunchLab, a
rival to Solana-based meme coin launchpad, Pump.fun, causing a 28% surge in Raydium's token. Concerns come as
Pump.fun's memecoins see a record decline, with less than 1% survival. Despite this, the popularity of meme coins remains evident, with over 47,000 launching on Pump.fun's platform within 24 hours and a single trader was able to make $840,000 through the launch of 17,000 tokens in a span of just three months. Investment in meme coins like Dogecoin and Shiba Inu are still heavily recommended. In parallel, Pump.fun related scandals raise security concerns. Pump.fun platform has had accounts hacked, faced lawsuits, and accusations of hosting impersonation tokens. Concurrently, Odin.fun emerges as a competitor, after being bankrolled by Taproot Wizard, aiming to establish itself as
Bitcoin’s first meme coin launchpad. Solana-based platform
Pump.fun sees record revenues in spite of these controversies, with Vine coin’s launch contributing to this. Pump.fun looks to evolve, amid rumors of testing an Automated Market Maker as a token launch alternative. However, this move toward AMM has been criticized as a
'Strategic Miscalculation', as over 60% of the platform's traders are losing money. This condition raises the question about whether meme coins have moved beyond harmless entertainment and turned into a serious liability.
FUN Coin News Analytics from Fri, 09 Aug 2024 07:00:00 GMT to Wed, 19 Mar 2025 12:16:04 GMT -
Rating -2
- Innovation -5
- Information 8
- Rumor -3
