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Child Launching Memecoin via Pump.fun Sparks Frenzy, Misses Out on Millions
Nov. 20, 2024. 1 min. read.
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Child sells memecoin early on Pump.fun, missing out on millions as its value soars, sparking community frenzy, doxxing, and more token launches amidst memecoin mania.
A young creator who launched a Solana-based memecoin on Pump.fun faced a rollercoaster of emotions after selling their tokens early for a modest profit, only to see its value skyrocket into the millions.
The child sold their entire holdings during a livestream, securing a five-figure payout, according to data from Pump.fun and Solana blockchain explorer Solscan. The move seemed prudent at the time, but the crypto community quickly rallied around the coin, elevating its market cap to over $100 million at one point.
“It’s a classic case of ‘you never know what you’ve got until it’s gone,’” commented one observer on social media.
In the wake of the token’s success, the crypto community “CTO’d” the original coin—crypto slang for taking technical ownership—and began doxxing individuals purported to be connected to the creator’s family. Several new memecoins associated with the child’s identity were subsequently launched via Pump.fun.
Had the child held onto their initial stash, the tokens would now be worth over $2.5 million. Yet, analysts suggest such a meteoric rise may not have occurred without the viral buzz surrounding the creator’s story.
Meanwhile, another memecoin, Just a Chill Guy (ticker: CHILLGUY), has emerged as a star in the memecoin mania. The token hit a peak market cap of $300 million before dropping to around $215 million, demonstrating the speculative volatility that defines this niche.
The resurgence of memecoins coincides with Donald Trump’s pro-crypto election victory and listings of major tokens like Dogwifhat and Pepe. However, according to IntoTheBlock, retail interest remains subdued compared to previous market peaks, signaling that memecoins are yet to reclaim their full speculative glory.
Source: Kid launches memecoin via Pump.fun and sells early, missing out on theoretical millions
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