The memecoin Pump.fun 'PUMP' token sold out immediately, raising 73 billion yen.

## Raised 73 billion yen in the Token Sale

The Solana (SOL)-based meme coin issuance platform "Pump.fun" announced on the 12th that its unique Token "PUMP" sold out in just 12 minutes after the public sale began. This suggests that investor interest in meme coins remains high.

In this sale, Pump.fun raised $500 million (approximately 73.6 billion yen), with about 10,145 wallets participating.

On the other hand, although it sold out instantly, due to the setting of the token price and sales volume, it fell short of the target amount of 600 million dollars, reaching only 500 million dollars.

According to Lookonchain, a major holder (whale) of Donald Trump's official meme coin TRUMP, "ff.sol", had also prepared a wallet with 10,000 USDC to participate in the sale of PUMP.

Pump.fun states that it will move to the distribution phase next, and that all tokens purchased on the official website or participating exchanges will be delivered to participants within the next 48 to 72 hours.

The token sale has multiple exchanges participating as partners, including Bybit, Kraken, Bitget, and others. Additionally, citizens and residents of the United States and the United Kingdom were excluded from this sale.

At Bybit, the sale of the PUMP Token exceeded applications just seconds after it started. Bybit accepted on a first-come, first-served basis, but stated that all excess applications were fully refunded within 10 minutes.

According to CoinMarketCap, PUMP rose from $0.014 before the sale to about $0.026 on the 12th. It is currently fluctuating around $0.016.

PUMP is the utility token of Pump.fun. While the PUMP token is not required to use the Pump.Fun platform, PUMP holders can participate in promotional events.

Pump.fun claims that PUMP supports an ecosystem that provides value to the community and contributes to the success of the platform.

Additionally, they mentioned that they are considering the implementation of utility mechanisms such as fee discounts, token buybacks, and other incentives and promotions.

What is a meme coin?

A coin that gains popularity by becoming a topic of discussion on the internet. A representative example is Dogecoin (DOGE), which saw a surge in trading volume after being mentioned by Elon Musk on social media. There is also SHIBA INU (SHIB), which was released in 2020 based on Dogecoin.

Acquisition of "Kolscan" simultaneously

Pump.fun has completed the acquisition of the wallet and on-chain trader analysis platform "Kolscan" at the same time as this token sale.

Kolscan is a wallet tracker that monitors the activities of top on-chain traders, providing real-time trading, token profit and loss, and a leaderboard ranking performance.

Pump.fun stated that the acquisition of Kolscan will provide a superior product for both Kolscan and Pump.fun users, creating a new user experience that will revolutionize the way on-chain transactions are conducted.