Pump.fun co-founder: ”No different to most altcoins or meme coins”

The co-founder of Pump.fun said that most altcoins have the same purpose as meme coins.
Alon Cohen, co-founder of Pump.fun, said through X that "the strategies that worked in previous cycles are working again."
"It's unrealistic to expect them to deliver the same value proposition as meme coins," Cohen said.
He pointed out that the total diluted market capitalization (FDV) is high and venture capital (VC) is involved. In particular, he said VC is providing individual investors with exit liquidity.
These comments were made in response to a post claiming that Pump.fun had ruined the altcoin market cycle.
He refuted the allegations, saying Pump.fun existed several months before the altcoin market began to trend downwards in April 2024.
Cohen said that Ant investors had been hit so hard in the past cycle that there was no way they would invest again in the "future of finance" in April 2024.
He explained the cause of the altcoin crash. He then said, "Most people have a day job and don't have a big interest in technology itself. In the end, what's important is personal satisfaction and having fun while making a small profit.
"Such social media discussions are a clear divide between tech-based altcoin investors who are focused on real utility and those who are just speculating on price without a solid use case," he added.
This indicates growing conflict among traders aiming to take advantage of the market.