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the price of PUMP tokens surged approximately 25% in the past 24 hours. This movement occurred at a sensitive time when Pump.fun and the Solana Foundation faced simultaneous class-action lawsuits, quickly attracting significant attention from the crypto market. The related lawsuits accuse both parties of insider trading and opaque token issuance arrangements, putting the entire Solana meme coin ecosystem under dual pressure of compliance and trust.
Pump.fun is one of the most influential meme coin issuance platforms in the Solana ecosystem. On-chain data shows that since its launch in early 2024, the platform has facilitated the creation of millions of tokens and has long been among the highest revenue-generating applications on Solana. However, with rising negative public opinion and regulatory risks, the number of new tokens issued by the platform has recently declined significantly, and on-chain activity has also shown signs of cooling down.#CryptoRegulationNewProgress #GameFiSeesaStrongRebound