Pump.Fun’s $1 Billion Token Sale Raises Meme Liquidity Concern

Pump.fun’s decision to raise $1 billion is sparking concern that a token sale by the most popular platform for creating memecoins risks siphoning demand away from the hundreds of coins issued daily through the website.

The platform, which is based on the Solana blockchain, is still in the early stages of the token offering, according to a person familiar with the plans who asked not to be named discussing private company information, Bloomberg News reported Tuesday. Alon Cohen, co-founder of Pump.fun, didn’t respond to requests for comment.

While details of the sale are not clear, the offering would rank among ...