Pump.fun: Tama ba ang $4B Valuation?

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Ang Tanong na $4B: Math vs Memes

Nang una kong makita ang proposed $4 billion valuation ng pump.fun, agad kumilos ang aking CFA training bago pa man masabi ng aking degen brain na ‘wen moon’. Tara’t tingnan natin ang mga numero:

Quick DCF para sa Degens:

30-day revenue: ~$416M annualized (5x multiple)
P/S ratio: 8x (compared to Coinbase’s 12x)

Hindi naman sobra… hanggang sa malaman mong ito ay pagkatapos ng meme coin mania. Noong peak noong Enero, umabot ang daily revenues sa $10M (ngayon ay ~$1.5M). Parang nagva-value ka ng Netflix base sa Tiger King-era subscriber growth.

Kapag Nawala na ang Usok: Ang Pivot ng Pump.fun

Ang platform na dating nagmi-mint ng ‘degens like printer go brrr’ memes ay tumataya na ngayon sa:

Crypto Twitch - Ang kanilang Gainzy ($FARTCOIN) at rasmr_eth livestreams ay nakakakuha ng atensyon ng Gen-Z higit pa sa TikTok
Meme Warfare - Ang $neet's anti-work protests at $chillhouse’s viral nonsense ay nagpapakita ng cultural savvy
Platform Coins - Ang $alon at $cupsey ay gumagawa ng mas matibay na ecosystems kaysa sa anumang dog-themed token

Ang aking quant model ay nagbibigay ng ‘vibes factor’ na beta na 1.8 - mas mataas kaysa sa karamihan ng Layer 1 tokens pero may aktwal na revenue.

Bear Market Playbook: Mula Printer Hanggang Publisher

Ang lihim na sarsa ng Pump.fun? Ang maging Bloomberg Terminal para sa mga meme lords. Habang ang mga kritiko ay sumisigaw ng ‘liquidity vampire’, ang kanilang:

100+ daily token launches (bumaba mula sa 500+)
Native influencers na pumapalit sa VC-funded shills
Anti-establishment narratives ($neet ay literal na walang trabaho)

…ay parang early Reddit’s path mula fringe hanggang mainstream. Palitan lang ang karma points ng rug-proof smart contracts.

Valuation Verdict: Schrodinger’s Meme Machine

Sa $4B, binabayaran mo ang: ✓ Isang derivatives market sa internet culture ✓ Ang tanging crypto-native media empire ✗ Predictable cash flows

Tulad ng sinabi ko sa aking mga hedge fund buddies: Hindi ito DCF play - ito’y pagtaya na ang Twitter memes ay mananatiling pinaka-efficient na price discovery mechanism sa mundo.

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1.78K

HashSleuth

Mga like：99.6K Mga tagasunod：4.96K

Quant trader turned crypto oracle. Building alpha-generating models since 2017. My charts predicted the last 3 market cycles - follow for on-chain insights even Vitalik would retweet. Currently obsessed with MEV extraction strategies. Not financial advice (obviously).

Mainit na komento (5)

डिजिटलऋषि

1 buwan ang nakalipas

मेमे या मैथ? दोनों नहीं!

जब मैंने pump.fun का $4B वैल्यूएशन देखा, मेरा CFA वाला दिमाग चिल्लाया ‘ये क्या हुआ?’ और मेरा ‘वेन मून’ वाला दिमाग बोला ‘चलो भई, ट्राई करते हैं’।

ट्विच पर क्रिप्टो, सच में?

अब इनका नया धंधा है ‘क्रिप्टो ट्विच’ - जहां $FARTCOIN जैसे टोकन के साथ Gen-Z को पकड़ा जाता है। शायद अगला स्टेप होगा ‘शादी के लिए डोगेकोइन लीजिए’!

फाइनल वर्ड:

$4B में आप खरीद रहे हैं: ✓ इंटरनेट कल्चर का कैसिनो ✓ एक ऐसा प्लेटफॉर्म जहां NEET (बेरोजगार) भी करोड़पति बन सकता है!

आपका क्या ख्याल है? क्या ये वैल्यूएशन भी कोई मेमे है या हम सब बेवकूफ बने जा रहे हैं? 😂

LunaChain

1 buwan ang nakalipas

Duit atau Dust?

Gue sebagai analis kripto bingung sendiri liat valuasi $4B pump.fun. Itu mahal banget buat platform yang kemarin masih cetak meme coin kayak mesin fotokopi rusak!

Logika vs Meme Magic Hitungan gue sih masuk akal… kalau kita anggap TikTok dance challenge bisa jadi dasar valuasi startup. Revenue mereka turun drastis sejak puncak hype, tapi tetap aja dihargai lebih tinggi dari Netflix era Tiger King!

Yang Lo Bayar: ✓ Tempat lahirnya $FARTCOIN ✓ Ekosistem influencer anti kerja ($neet) ✗ Arus kas stabil (lol)

Komen di bawah: Kalian mau invest di meme factory ini atau nabung buat kopi?

734

BlockchainNomad

1 buwan ang nakalipas

Meme Economy 101

Pump.fun’s $4B valuation is like trying to value a casino based on the number of people yelling 'YOLO' at the roulette table. Sure, the numbers *technically* add up (if you squint), but let's be real—this is less about DCF and more about whether Gen-Z will keep buying $FARTCOIN.

From Brrr to Bloomberg

The real genius? Turning degens into media moguls. Who needs CNBC when you’ve got livestreams of rasmr_eth explaining why $neet is the ultimate anti-work protest? It’s like Reddit meets Wall Street, but with more memes and fewer suits.

Verdict: If you believe internet culture is the new oil, then pump.fun might just be your ExxonMobil. Or it’s all going to zero. Place your bets!

Thoughts? Is this the future of finance or just another meme bubble?

MèoTiềnẢo