Pump.fun, a meme coin launchpad on the Solana blockchain, has achieved a major milestone by completing its public token sale in just 12 minutes, raising $500 million.

This record-breaking event was confirmed in a July 12 post on X, where the team thanked its community and announced that the token is now entering its distribution phase.

Pump.Fun Token Surges 40% After Presale

The token sale saw 12.5% of the total 1 trillion PUMP token supply sold at a fixed price of $0.004.

While the sale was conducted across multiple exchanges, it was not available to participants in the US or the UK.

“The tokens will initially be untradable & untransferrable whilst the distribution phase is carried out. once the distribution phase is complete, the tokens will become tradable & transferable – an announcement will be made upon completion,” the project team stated.

Despite these restrictions, the demand for the tokens was overwhelming, with significant interest from large crypto investors.

On-chain data from blockchain analysis platform Lookonchain revealed that prominent crypto whales quickly joined the sale.

One such investor, identified by the handle “ff.sol,” had previously seen significant gains, turning a $1.19 million bet on TRUMP meme coin into a peak value of $438 million.

This investor moved 1 million USDC into a new wallet to join the PUMP presale.

Meanwhile, early indications show

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Author: Oluwapelumi Adejumo

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