- Pump.fun’s PUMP token hit a $5.6B fully diluted valuation after its $500M ICO sold out in under 12 minutes.
- Kraken and Bybit faced technical issues during the presale, prompting user backlash and compensation efforts.
- PUMP is now trading across major platforms like KuCoin and Bybit, with leveraged contracts available on Hyperliquid.
Pump.fun just made one of the loudest meme coin debuts of the year. The project’s native token, PUMP, launched today across multiple major exchanges after a massive $500 million ICO that wrapped up in under 12 minutes. That kind of demand pushed the token to open at $0.0056—putting its fully diluted valuation at a whopping $5.6 billion.
PUMP saw a quick spike to $0.0065 before sliding slightly to around $0.0054. The rapid rise and volatility didn’t surprise many given the sheer scale of interest over the weekend. But while it’s been a huge launch in terms of numbers, the rollout hasn’t exactly been smooth.
Exchange Glitches Spark Backlash From Users
The presale wasn’t without drama. Kraken faced significant heat after users reported issues with placing orders. Co-CEO Arjun Sethi acknowledged the problems and pledged to compensate affected users with airdrops, buying the tokens at market rates—even if it means paying a premium.
Over at Bybit, things got messy too. The exchange initially pointed fingers at Pump.fun for API issues before walking that back. Bybit later announced it would issue a $20 fee credit to impacted users. Still, some users weren’t impressed—many felt like they missed out on major profits and that the compensation didn’t go far enough.
PUMP Goes Live on Multiple Platforms
Now that the token is live, it’s trading across several major platforms including Bybit, MEXC, Bitget, Gate, KuCoin, and Hyperliquid. For those looking to play the volatility game, Hyperliquid has already rolled out 5x leveraged perpetual contracts on PUMP. It’s quickly become one of the most-watched memecoin listings of the year.
The hype may be real, but like any meme token story, it comes with a heavy dose of chaos. Between failed orders, furious traders, and billion-dollar price tags, PUMP is showing all the classic signs of a wild cycle just beginning.
