Pump.fun Plans $1B Token Raise at $4B Valuation; Solana Sees Brief Dip

Solana’s native token, SOL, slipped around 2% Tuesday afternoon following reports that meme token launchpad Pump.fun is preparing a major token sale.

According to Blockworks, Pump.fun aims to raise $1 billion through a token offering that would value the project at $4 billion on a fully diluted basis. The report noted that details remain unclear, including the timing of the sale and whether the new token will launch directly through the Pump.fun platform.

Pump.fun has seen rapid growth since its debut just over a year ago. Built on the Solana blockchain, the platform lets users easily create and trade custom tokens—and has reportedly generated more than $700 million in total revenue.

SOL briefly fell to around $144.99 in reaction to the news but has since recovered roughly half of the initial drop.