Pump Fun Just Launched $PUMP, Here’s What You Need To Know

Pump Fun ($PUMP) is officially live on Bybit, kicking off trading at $0.006. The token public sale price? Just $0.004. That set its fully diluted valuation (FDV) at roughly $4 billion, but within hours, pre-market hype pushed that number closer to $5.5 billion. Some traders are already betting on a quick double. But beyond the flashy debut, the cracks are already showing. Let’s not kid ourselves— Pump Fun is built on the back of memecoin mania. That trend peaked months ago. Since then, we’ve seen the cycle too many times: a new token launches, the hype kicks in, prices pop, then collapse. What follows? Exit liquidity and a Telegram graveyard. Pump Fun leans heavily on the idea of “community-generated memecoins.” It’s catchy, sure. But is there substance behind it? That’s harder to see. There’s no clear product. No real revenue model. No defensible moat. Just vibes. At current market cap and FDV, $PUMP revenue returned to token holders (25%) is higher than $HYPE , $AAVE , and $RAY buybacks as a % of supply. The token also trades at the lowest multiples based on both total revenues and revenues to token holders. $5.5bn is fud. pic.twitter.com/fhKVzzXrXD — DMD (@Daveeemor) July 14, 2025 Still, the tokenomics are bold. According to CoinMarketCap, Pump Fun sits at a $1.9 billion market cap and a $5.5 billion FDV. Twenty-five percent of all platform revenue is earmarked for holders. On paper, that’s better than the likes of $HYPE (18%), $AAVE (15%), and $RAY (20%) in terms of buyback efficiency. Combine that with low revenue multiples, and you could argue Pump Fun is undervalued. But in practice, that argument only works if everything goes perfectly. And right now, the setup is shaky. Bybit funding rates are running hot. Longs are deep underwater after the listing. Shorts have already exited. That leaves long positions hanging by a thread, especially if price dips trigger liquidations. $PUMP Airdrop Coming? Then there’s the elephant in the room: the airdrop. A large chunk of tokens hasn’t been distributed yet. Once they hit wallets, we could see a massive wave of selling. Until those two issues clear, the price is likely stuck in a narrow, choppy range. There’s still a shot this plays out well. If the airdrop goes smoothly, and funding pressure eases, the token might rerate higher. In that case, traders could come running—especially those watching revenue metrics and looking for value plays in high-FDV tokens. The bigger question is whether the ecosystem fund—set at 24% of the token supply—can spark a real creator economy. Can Pump Fun attract developers and meme creators who stick around after the hype fades? Or will it be another flash-in-the-pan token that dies the moment attention shifts elsewhere? The signals are mixed. Daily trading volumes are strong. Social sentiment on Telegram and X is intense. But fundamentals are still flimsy. There’s no revenue beyond token fees. No clear roadmap. And no evidence this can survive beyond the memecoin cycle. If we do get a turnaround, it will come fast. Once funding normalizes and the airdrop pressure clears, momentum could return quickly. But traders need to stay sharp. Watch Bybit’s funding rates. Track wallet activity on-chain. Pay attention to X threads and Telegram chatter. And above all, don’t chase green candles blindly. Pump Fun might have made a loud entrance—but whether it sticks the landing is another story entirely. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

Source: NullTx