The highly anticipated $600 million token sale for Pump.fun on Gate.io has vanished without explanation This comes as the platform’s daily revenue has crashed by 86% since its peak in January 2025 The failed launch and collapsing metrics are raising serious red flags about the project’s future After weeks of speculation, hype, and an alleged $4 billion valuation, Pump.fun’s long-awaited PUMP token launch turned into a messy vanishing act more than a milestone moment. The rumored $600 million Initial Exchange Offering (IEO) on Gate.io has been cancelled, the dev team is silent, and the user base is rapidly shrinking. Market participants wonder if PUMP is the next big utility token or just another meme masking a rug pull. Gate . io just leaked pump fun public sale… their official website just created “Public Sale of $PUMP token” it says the event launches in 4 days 18 hours, and they’re aiming to raise $600m. interesting. https://t.co/MnQn2odlS4 pic.twitter.com/J00Jw7PanY — lyxe (@cryptolyxe) July 7, 2025 A $600 Million Misstep Earlier this month, a token sale page appeared on Gate.io, revealing plans to sell 150 billion PUMP tokens at $0.004 e… The post Is the PUMP Token Just Another Meme or a Massive Rug Pull in Disguise? appeared first on Coin Edition .
