Alon: Pumpfun is the product of market demand, and retail investors are no longer pursuing the strategies of the previous cycle.

Wu learned that Alon, co-founder of Pumpfun, responded to the view that ‘Pumpfun will be launched in April 2024, coinciding with the deviation of the altcoin cycle’ by stating that Pumpfun was actually launched in January 2024, not April. It is a product of market demand, and if it didn’t exist, similar platforms would emerge. Memecoin was already popular before Pumpfun, and its rise was spontaneous, without any paid promotion. Many retail traders don’t follow large profits, but rather enjoy the excitement and personal satisfaction that the platform brings. However, in this cycle, technology-driven tokens that add value have performed well, but it is unrealistic to expect the strategies of the previous cycle to work again. Especially when people realize that most of the value propositions in these tokens are similar to low-quality coins like Pumpfun, with only a low Circulating Supply, high fully diluted Market Cap, and a large amount of venture capital behind them.