The Pump.fun platform, known for launching Meme Coin based on Solana, is facing a legal lawsuit from Burwick Law, a law firm representing investors who have lost "a significant amount of money." The lawsuit focuses on failures related to Meme Coin, rug pulls, and questionable projects on this platform.
Burwick Law has called on affected investors to fill out a registration form to join the legal battle. According to information, over 60% of Pump.fun users have suffered losses, and this law firm is committed to pursuing financial accountability in the Web3 space.

The token created by Mark Longo to honor his late pets has experienced a dramatic collapse. Within two weeks of its launch on November 26, it has lost over 99% of its value. On-chain data reveals significant selling pressure as the project faces growing controversies. The token, Justice for Pnut and Fred (JUSTICE), launched via the Solana-based platform Pump.fun, is now trading at $0.0003834, a drastic decline from its initial value.
Market Cap Falls Below $400,000
Despite boasting over 31,000 holders, the project’s market capitalization has plummeted to $375,960. Mark Longo, the creator of the token, has not responded to requests for comments regarding JUSTICE's performance.
Original Intent and Controversies
The token was launched after Longo publicly criticized the crypto community for allegedly exploiting his personal tragedy to create the meme coin Peanut (PNUT). "It’s despicable that people want to profit off this situation," Longo said in a video posted on Twitter. Ironically, he later decided to launch his own token, sparking further controversy.
The PNUT community also pointed out that Longo received $50,000 in donations, which he reportedly cashed out immediately.
Migration to a New Token Fails
On December 6, a new contract address for the token, renamed Justice for Peanut (JFP), was announced. However, this new token also suffered severe losses, dropping 67% in value since its creation. Longo stated that he had submitted requests for the token’s listing on CoinMarketCap and CoinGecko, though the outcome remains unclear.
The Incident Surrounding Longo's Pets
The case of Longo’s pets, Peanut and Fred, garnered significant political attention when Vice President-elect JD Vance highlighted the story during a rally in North Carolina. Public interest intensified after Elon Musk commented on the incident, which led to increased trading activity surrounding the meme coin PNUT.
The incident began when New York wildlife officials raided Longo’s sanctuary in Pine City, citing violations of wildlife laws. Peanut, who had amassed over 500,000 social media followers, was euthanized along with Fred after reportedly biting someone during a seizure. The raid sparked widespread outrage and motivated Longo to launch his token.
Pump.fun Revolutionizing Token Creation
Pump.fun, a platform facilitating easy token creation on the Solana blockchain, played a pivotal role in the proliferation of similar projects. For just 0.02 SOL (around $4.80), users can create tokens without technical expertise. However, the platform's mechanisms contribute to extreme volatility, often leading to the collapse of trending tokens.
Since its launch in January 2024, the Solana-based platform has enabled the creation of over 3.85 million tokens. In response to mounting controversies, Pump.fun banned UK users from accessing the platform after receiving a warning from the British financial regulator.
Conclusion
Mark Longo’s journey with the JUSTICE and JFP tokens highlights the risks and volatility associated with meme coins. While platforms like Pump.fun bring innovation to the crypto space, they also open the door to highly controversial and unstable projects.

#PnutToken , #Justice , #pumpfun , #Solana_Blockchain , #CryptoNewss

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Pump.fun, a Solana-based meme coin deployer, has achieved notable success, surpassing $100 million in total revenue.
This milestone comes as the platform faces fierce competition from imitators and ongoing criticism from the crypto community.
Pump.fun Revenue Exceeds $100 Million
Data from Dune Analytics reveals that Pump.fun’s revenue has crossed the $100 million threshold, with nearly 2 million tokens launched on the platform. This achievement occurred about eight months after its launch on Solana in January 2024, followed by the integration of Blast shortly after its mainnet went live in February.

The platform’s growth can be attributed to the surge in meme coin activity within the crypto industry this year. Pump.fun’s success stems from its innovative approach, allowing non-technical users to launch meme coins quickly and affordably. This ease of use has attracted casual participants and influencers who prefer not to rely on development teams.
However, Pump.fun’s success has inspired several imitators on other blockchain networks, such as SunPump on Tron. Recently, traders seemed to have shifted their attention to the Justin Sun-backed platform thanks to his aggressive marketing tactics.
On-chain data shows that SunPump has gradually chipped away at Pump.fun’s dominance. Over the past week, SunPump accounted for nearly 50% of Pump.fun’s token mints and also represented up to 40% of meme coin trading volumes on peak days.

Despite this, Pump.fun maintains its first-mover advantage and has been recognized by some as a “disruptive innovation.”
Meanwhile, the success of these meme coin launchpads has sparked mixed reactions within the crypto community. Critics argue that many tokens on these platforms are scams, resulting in financial losses for users. Conversely, supporters praise the platforms for their seamless integration of creation tools and responsive support.
“My lingering theory is that Pump.fun and the various derivatives obliterated any chance of bull run to maintain momentum in 2024. [They] sucked in all liquidity that should have went to actual projects, 95% of users lost money to scams, and winners cashed out,” crypto analyst Rani said.
On the other hand, crypto analyst Daruma likened their impact to the disruption caused by short videos in film and television or Twitter’s influence on books.
“Many projects have tried to move baccarat, roulette, and poker from the casino to onchain, did they make it by just leveraging gambling? You might call those meme coin things gambling, but even from the perspective of gambling, it’s an unprecedented and innovative way of gambling only possible onchain. It may be as bad as rat poison, just like bitcoin lol, but you can’t deny its innovation,” Daruma stated.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#SOL #pumpfun