Memecoin bear-market malaise and KOL rug backlash
Solana memecoin traders vent over a recent exit scam and KOL rugs and debate attention coins versus communities. $PUMP buybacks continue at reduced volume and launchpads tweak anti-sniping rules.
What we know
An account on X criticizes a 350k reward that preceded a 600k rug. Another account on X shows $PUMP buying back 116M tokens. Float capped first buys at 2% and raised the duplicate-ticker fee.
How the story developed
Solana memecoin traders vent over a recent exit scam and KOL rugs and debate attention coins versus communities. $PUMP buybacks continue at reduced volume and launchpads tweak anti-sniping rules.
Pump.fun is steering callout rewards toward higher-cap tokens and non-SOL ecosystems; Ansem also praised Kinetiq's Elysium buyback-and-burn.
Solana-adjacent communities are focused on Pump's experimental callout reward algorithms, $PONS buyback metrics, a bagworking revival, and SPX6900 narratives.
Solana strength, Pump.fun updates and ZEC momentum drive trader attention, alongside Pyth revenue milestones and new trading apps.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.