Solana

Memecoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-criticize-pump-fun-for-high-memecoin-failure-rate/" data-wpel-link="internal">Investors Criticize Pump.fun for High Memecoin Failure Rate</a> 
In the cryptocurrency world, Pump.fun has made a significant impact with its millions of memecoins, becoming a frequently visited platform by <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. However, recent analyses reveal that 99.998% of this altcoin is financially unsuccessful. Pump.fun was introduced as a platform that enables the creation of memecoins with simple tools on the <a href="https://en.coin-turk.com/ethereum-arbitrum-polygon-none-of-them-could-fight-the-visible-rise-of-solana/" data-wpel-link="internal">Solana</a> Blockchain, but recent findings show that the promised concept of “democratized finance” does not reflect reality. 
<h2 style="text-align: justify" id="strong-success-rate-only-0-002-strong">Success Rate Only 0.002%</h2> 
Over 1.7 million memecoins have been created on Pump.fun so far, but only 41 of them have reached a market value of 1 million dollars in the long run. This brings the platform’s success rate for producing successful altcoins to an extremely low level of 0.002%. 
Even worse, only 15 altcoins created on the platform have surpassed 10 million dollars. Such a low success rate reveals that the financial opportunities promised by the platform are actually utilized by only a very small segment. It is known that these prominent altcoins are mostly supported by wealthy celebrities and investors. 
<h2 style="text-align: justify" id="strong-users-react-strong">Users React</h2> 
Statements made by the platform on its social media account have drawn significant backlash from users. Users expressed their reactions by stating that most of the memecoins created on Pump.fun are worthless and that the platform profited during this process. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-379748" src="https://coin-turk.com/wp-content/uploads/2024/08/pumpfun-altcoin-memecoin.png" alt="" width="554" height="697"> 
One user summarized the situation by saying, “It’s no longer fun. 99% of us lost money, while you won anyway.” This disappointment has shaken not only the users but also the cryptocurrency world’s trust in this platform. 
Pump.fun, with its user-friendly interface and low entry barriers, has allowed many people to create memecoins so far, but this has ultimately led to an abundance of low-quality memecoins in the market and a loss of popularity for memecoins. These altcoins, which rapidly lost value after a temporary popularity, became victims of speculative investments and momentary hype. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-criticize-pump-fun-for-high-memecoin-failure-rate/" data-wpel-link="internal">Investors Criticize Pump.fun for High Memecoin Failure Rate</a></h5>
The post <a href="https://en.coin-turk.com/investors-criticize-pump-fun-for-high-memecoin-failure-rate/" data-wpel-link="internal">Investors Criticize Pump.fun for High Memecoin Failure Rate</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Investors Criticize Pump.fun for High Memecoin Failure Rate

Table of Contents

COINTURK NEWS

Other articles published on Aug 14, 2024

Crypto.com Scores Exclusive Deal with UEFA Champions League

Investors Eye XRP’s Upward Trend

Coinstore Labs Launches ICP Chain FusionHackathon 2024: Compete for a 500,000USDT Prize Pool

30 under 30 Entrepreneurs to Follow in 2024

Crypto or Forex: What to Choose when you are a newbie?

Shimmer Faces Community Backlash: Delisting of SMR Token by Leading Crypto Exchange Triggers a 30...

Join our free newsletter for daily crypto updates!