Pump.fun (PUMP)

I understand all the bear arguments / concerns, but at some point people are going to find 4x profit an attractive multiple, or @Pumpfun will simply buy back all the tokens. https://t.co/rWZIWxTzGA

I have long term view on most tokens in DeFi and a lotta patience for teams working through tough times, but I have absolutely no idea what reason Pump still has to exist.

Ironically, the culture that promoted its grossly extractive behavior is partially why there's so much fatigue among liquid token investors now, and hence why great Solana team tokens are down so severely.

These are extremely talented teams below, who IMO will be here in 4 years, but my god, as a founder or token holder, you should be so tired of some investors, builders, and advocates in your community promoting this shit.

Attention and time is the most scarce asset in this market. The net-negative impact of pushing infinite worthless tokens, with a nihilistic flair, is still being priced into the bear market.

Measuring from all-time-highs:
PYTH (-96.8%)
ORCA (96%)
JTO (-95%)
KMNO (-93%)
GRASS (-93%)
JUP (-92%)
2Z (-91.6%)
MET (81.6%, but tbf it's a new token since Nov)
BP (-68% from ATH, also new token at $140M FDV)
DRIFT (97.5%, before the exploit)

This is a true bear market purge happening. Ethereum eco tokens are down as well, but I just don't see the same sort of black cloud hanging over Ethereum DeFi. We've been through our own purge over the years but dear god, you ought to distance from such cancerous teams, despite their impressive fees and revenue ($2M fees and $1M revenue on a bad day for Pump).

I just don't get it.

I think it will die a painful death, eventually.

AI Crypto Alerts flagged weakness on $PUMP as sellers took control earlier today.

Pressure continues to build across the meme coin sector, with sentiment and positioning both leaning bearish.

Real-time market intelligence > hindsight. https://t.co/zU34thzuxp