Pump.fun ICO Sold Out in 12 Minutes After $500M Raise, Rallies Snorter Token

Pump.fun’s initial coin offering (ICO) raised a jaw-dropping $500 million in just 12 minutes, making it one of the most successful ICOs of all time.

The new $PUMP token will power the Pump.fun ecosystem, renowned for its dominant position in the meme coin sector. Investors scrambled to buy, aware that it’s a rare event for such a high-profile platform to launch a native token.

However, Pump.fun’s ICO success may be just the first domino to fall in a broader surge. Since news broke, the Solana meme coin trading bot Snorter has seen massive inflows into its own presale.

Snorter’s total raise currently sits at $1.6 million, and it’s climbing rapidly. As word spreads, it could well be $SNORT that becomes the next major ICO sellout.

Pump.fun ICO Raises $500M at $4B Valuation

An ICO is a fundraising method used to launch new tokens. Though Pump.fun operates its own token launchpad with a bonding curve model, it chose the ICO route for launching its own native token instead.

The ICO began on July 12 at 2 p.m. UTC, offering 150 billion $PUMP tokens on Solana at $0.004 each – just 15% of the total $PUMP supply. This gives $PUMP a fully diluted market cap (FDV) of $4 billion.

The presale raised $500 million in just 12 minutes. The project has also attracted private investment, with co-founder Alon confirming to Bloomberg that a total of $1.34 billion has now been raised.

The Pump.fun app lets anyone launch their own meme coin in seconds. Initially, tokens trade on the Pump.fun platform, but if they generate enough buying pressure and fill out the bonding curve, reaching a market capitalization of $69,000, the token bonds on the platform’s native decentralized exchange, PumpSwap.

According to the team, token sale proceeds will be used to expand the ecosystem. However, Alon clarified on X that Pump.fun intends to remain rooted in the Solana ecosystem, squashing some speculation that it might launch its own blockchain.

“Our vision for Pump.fun is a Solana-native platform that genuinely empowers creators and inventors to control their financial destiny while rewarding their communities with upside in their success,” he wrote.

ICO Summer? Pump.fun’s Presale Sends a Clear Message

Pump.fun’s choice to go the ICO route over bonding quietly sends an important message: ICOs are superior for token distribution.

“We decided to return to tradition by launching $PUMP through an ICO. ICOs have proven to be the best mechanism to quickly distribute tokens among a really wide audience,” explained Alon.

If the $PUMP token delivers profits for presale buyers, it could reaffirm ICOs as the gold standard for launching crypto projects.

It’s the same method Ethereum used in 2014 – now up 9,521x. It’s also how Pepe Unchained launched in December 2024 before surging 10x in days, and how BTC Bull Token launched before doubling in price within 48 hours this July.

ICOs give investors ground floor access – before exchange listings. If Pump.fun’s ICO performs well, it could well spark an ICO Summer.

One ICO that analysts are watching closely right now is Snorter. It’s a promising meme coin trading bot that’s starting to see real fundraising success.

Top Trader Says Snorter Might Deliver 100x Gains

The Snorter ICO has raised $1.6 million so far. While that may not match Pump.fun’s record-setting inflows, it’s a huge amount for a project that has yet to launch its official product yet.

Pump.fun has already generated over $800 million in revenue and will list at a $4 billion valuation. Meanwhile, Snorter investors are getting in early, before it goes mainstream.

Rather than helping users launch tokens, Snorter identifies the best opportunities on the market. Its bot is designed to detect emerging tokens with massive upside potential and buy before the crowd.

It offers features like copy trading, automated token sniping, rug pull detection, limit orders, and dynamic stop losses. It’s powered by a custom RPC network that bypasses typical decentralized exchange congestion, allowing users to trade faster than the competition.

The project is catching the eye of industry experts. For example, 2Bit Crypto recently covered Snorter and suggested it could deliver 100x gains.

Snorter is a Solana-based meme coin infrastructure ICO, just like Pump.fun.

But while Pump.fun is worth $4 billion, Snorter will list in the tens of millions. That’s why 2Bit Crypto says it has 100x potential.

Visit Snorter Presale

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