Solana-based memecoin platform, Pump.Enjoyable confronted a dramatic 33% income drop after pulling plug on its controversial livestreaming options. The choice adopted a weird incident the place a person staged a pretend suicide throughout a reside broadcast to advertise their memecoin.
Nonetheless, the advertising and marketing transfer backfired spectacularly, dropping Pump.Enjoyable’s each day income to $3.6 million from $5 million in a single day, in accordance with DeFiLIma information.
Dangerous Content material on Pump .Enjoyable
Initially, Pump.Enjoyable’s reside streams have been a magnet for viral stunts and over-the-top celebrations. This features a middle-schooler flaunting $30,000 from a controversial rug pull.
Nonetheless, the pretend suicide incident sparked a firestorm of backlash, which compelled Pump.Enjoyable shut down its live-streaming service and left customers questioning the platform’s moral boundaries.
Since its inception, Pump.Enjoyable has generated $230 million in income. Nonetheless, some analysts warned that the platform’s unchecked chaos might have lastly caught up with it. Rivals on rival platforms like Base are already eyeing disillusioned customers.
Latest incidents have sparked fears concerning the risks of the unregulated memecoin market, which frequently lacks protections towards illicit practices and dangerous content material. Whereas Pump.Enjoyable’s live-streaming options initially boosted its recognition by way of viral moments, it additionally uncovered main vulnerabilities.
