# solana memecoin

Pump.fun co-founder Alon admitted the creator fee mechanism incentivized low-risk coin creation over trading activity, announcing market-based approach where traders decide revenue-sharing arrangements as platform faces expanded class-action lawsuit including nearly 5,000 internal messages alleging coordinated insider access to newly launched tokens while generating $722 million revenue.

Pump.fun ($PUMP) has raised $600M in 12 minutes, ranked 46 on CoinMarketCap and drawn $1.14B in daily volume. The token has gained 18% and is testing $0.00670 resistance; buybacks and a Bitget Launchpool event have supported recovery while analysts target $0.10.

Solana-based memecoin Peanut ($PNUT) has skyrocketed to a $1 billion market cap within just two weeks of launch, fueled by listings on Binance and Bybit, and a remarkable 230.4% surge in the last 24 hours.