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Is Pump(.)fun launching a token?

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Plus: California might accept crypto payments soon

Welcome

GM. We picked the freshest headlines and licked a few to claim them - don’t judge, it’s a competitive orchard.

💊 Pump(.)fun token rumors.

🤨 Finding out who your date really is...

🤑 How to trade like smart money?

🍋 News drops: the official Trump wallet, Meta's nuclear energy deal + more

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🍍 Market flavor today

Fear and Greed Index
Find out more about the Fear & Greed Index here.

 Crypto Market Cap: $3.31T -1.2% (24H)
  Name   Price 24H 7D
Bitcoin Bitcoin BTC $104,711.10 -1.37% -2.17%
Ethereum Ethereum ETH $2,633.90 0.10% 0.78%
XRP XRP XRP $2.25 0.85% -0.39%
BNB BNB BNB $665.08 0.04% -2.32%
Solana Solana SOL $156.42 -3.39% -7.43%
Prices as of 10:00 AM EST. Click here to see live data.

It’s been nearly two weeks since Bitcoin hit its all-time high above $111K, and it's been either downhill or flat since then.

And yeah, we’ve already talked about the main reasons for that: macro uncertainty, profit-taking, and lack of retail demand.

BTC price chart 06-04

Source: BitDegree

That hasn’t changed - but we've got more data to back it up.

First off, analyst Willy Woo pointed out that some of the biggest whales in the market - those holding over 10,000 BTC - have been gradually selling since 2017.

Most of these coins were bought for peanuts (like $0 - $700) and held for 8 - 16 years. So yeah, they’re sitting on massive gains - and some are finally taking profits.

Their selling adds steady downward pressure that’s hard to fight without new demand.

Took some crypto profit

Source: @naiivememe

Which brings us to retail.

We’ve already talked about the fact that retail investors aren't here yet, and CryptoQuant’s Cauê Oliveira gave us more proof.

Over the past month, on-chain transactions under $10K - the kind linked to retail - have dropped by about 2.45% = the hype just isn’t there.

ETFs and treasury buyers are doing some of the heavy lifting, but without broader demand from regular investors, Bitcoin doesn’t have enough momentum to push higher.

At least for now 👀

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🤨 Who are you really dating?

Whitebridge.ai 05-27

Outdated profiles, sketchy posts, or red flags - what’s behind their charming bio?

Whitebridge.ai lets you scan your date’s digital footprint before things get real.

First dates are better when you’re informed!

Run a discreet check now

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🥝 Memecoin harvest

Wall Street watching these gains like: 😬

Data as of 05:00 AM EST.

Check out these memecoins and plenty more here.

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💊 Pump(.)fun token?

Pump(.)fun... the memecoin platform that brought us endless celebrity rug pulls, a 14-year-old scammer, and that dude who barked in a cage on live for people to buy his memecoin.

And now, they’re cooking up… their own token?

Reports say Pump(.)fun is planning a token sale to raise $1B, with a $4B valuation.

Cryptoleon tweet 06-04

Source: @cryptoleon_xyz

Which is... wild.

For context: so far, launching a token at a $4B+ valuation has mostly been big L1s (like Aptos and Sui), scalable tech (like Arbitrum), or sci-fi type crazy projects with huge backers (like Worldcoin).

But here we've got Pump(.)fun - a platform that made its name off fast-and-loose memecoin launches, has no proven long-term utility, can easily be copied (like Sun Pump on TRON) - aiming for $4B.

So, if the raise is real, it's gonna have to answer some questions to prove this isn't just another stupid joke with a price tag:

  • Why is it worth $4B?

  • What does it actually do?

  • How safe is it from pump-and-dump risks or legal issues?

  • Etc, etc, etc.

That said, keep in mind that the only sources so far are "people familiar with the matter," which, for all we know, could just be Bob from accounting who had a vision during his lunch break.

Source? It was revealed to me on my walk

Still, the rumors alone have people talking - and most takes aren't bullish.

👉 Some think this could drain liquidity out of the entire memecoin market, just like the TRUMP token did. In other words, if everyone rushes into the Pump(.)fun token, other memecoins might get dumped.

👉 Others see it as their exit plan. Pump(.)fun once said they'd never launch a token - so now that the fee income is slowing, launching one feels less like growth and more like a final cash grab.

Adam Cochran tweet 06-04

Source: @adamscochran

And because Pump(.)fun has been the face of the memecoin cycle, a token sale like this could mark the end of it - not just because it breaks their anti-token position, but because it turns a free-for-all culture into a monetized product.

Assuming the sale happens at all.

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😏 Can’t trade? Just copy someone who can

Ever looked at someone’s trades and went like… why didn’t I do that?? 😩

Well, you could have - if you were copy trading.

Our latest Crypto Finally Explained video breaks down everything you need to know about this strategy:

👉 What copy trading is;

👉 How it works;

👉 And how you can take advantage of it.

Go watch it - your future self might thank you! 🤑👇

CFE 06-04: Copy trading

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🍋 News drops

🤔 Magic Eden and the team behind the TRUMP token dropped the Official TRUMP Wallet. The only problem? People close to Donald Trump are saying they didn’t sign off on that.

☢️ Meta locked in a 20-year deal to get nuclear energy from a power plant in Illinois. They say it’ll help power all the AI stuff they’re building - which, surprise, needs a ton of electricity.

📢 The SEC wants to set clearer rules for crypto and will let the public weigh in during the process. Chair Paul Atkins said they’ll use their existing authority to create guidelines that better fit how the crypto market actually works.

🚀 California might let state agencies accept crypto for some payments. If the bill passes, the state’s financial regulator would set up rules so people can use crypto to pay fees and charges under its digital assets law.

⚖️ Coinbase wants a federal judge to take over a lawsuit filed by Oregon’s attorney general, saying it shouldn’t be handled by the state. They argue the case is basically a copy of a past SEC lawsuit that was already dropped.

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🍌 Juicy memes

Me following whales' strategy

Source: @naiivememe

Managing my $50 crypto portfolio

Source: @dubzyxbt

Babe we're pre-rich

Source: @naiivememe

Gode S. Web3 Market Analyst
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.

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