Pump.Fun, a meme coin launchpad on Solana, has teased the sale of its new token, PUMP, with plans for a $600 million public sale starting July 12. Initially announced on a page by crypto exchange Gate, which has since been removed, the sale was set to offer 15% of the total supply of 150 billion PUMP tokens at a price of $0.004 each, leading to a fully diluted valuation of $4 billion. The page mentioned the sale would remain open for up to 72 hours, with purchases available on a first-come, first-served basis. There is no upper limit on the number of tokens a buyer can purchase, only a minimum requirement. Pump.Fun has been the leading platform for meme coin creation since its launch in January 2024, generating significant user activity, including records for tokens created daily. However, it recently faced competition from another platform, LetsBonk, which surpassed Pump.Fun in token creation for the first time, raising questions about the sustainability of its success and the potential for an anticipated airdrop for early supporters.

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