WhiteWhale memecoin declined over 60% within minutes after a trader bought 1.5% of the total token supply for $370.
Pump.fun co-founder Alon admitted the creator fee mechanism incentivized low-risk coin creation over trading activity, announcing market-based approach where traders decide revenue-sharing arrangements as platform faces expanded class-action lawsuit including nearly 5,000 internal messages alleging coordinated insider access to newly launched tokens while generating $722 million revenue.
Pump.fun ($PUMP) has raised $600M in 12 minutes, ranked 46 on CoinMarketCap and drawn $1.14B in daily volume. The token has gained 18% and is testing $0.00670 resistance; buybacks and a Bitget Launchpool event have supported recovery while analysts target $0.10.
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