Suspension-themed memecoins flooded Pump.fun, driving over $10 million in trading volume within an hour.
Sudden suspensions hit Pump.fun on X, as both the platform’s official account and the personal handle of founder Alon Cohen became inactive alongside dozens of other profiles linked with the Solana memecoin space.
As of yet, there is still no word from X or from the teams behind these accounts explaining what prompted the suspensions.
Users first noticed the suspensions around 7:30 p.m. UTC yesterday, when attempts to load Pump.fun’s twitter account returned an “user not found” error.
An X user known as Otto quickly put together a list showing that many popular handles in the Solana community had been suspended. Among them were @gmgnai, @haze0x, @arthur_gmgn, @BloomTrading and @imBFFF00, as well as memecoin bots like @bullx_io and @ElizaOS.
Otto described the event as an “internal enforcement sweep” rather than the result of coordinated mass report campaigns.
Most of the frozen accounts offered services such as trading tools, automated order routing or marketing support for on-chain assets, activities that often brush up against X’s policies on platform manipulation and spam.
Solana memecoins centered around the suspensions flooded Pump.fun
Within an hour of the suspensions, community members flooded Pump.fun with new memecoins named after the ban and referencing Cohen’s alias. These tokens aimed to capitalize on the sudden suspensions.
According to DEX Screener data at 8:22 p.m. UTC, five of those suspension-themed coins ranked among the top ten tokens trending for the day. Together, they accounted for $10.4 million in trading volume during that period.
Moreover, 15 of the 31 Solana memecoin tokens that completed Pump.fun’s bonding-curve process and “graduated” in the hour following the ban were themed around the incident.
The sudden suspensions gave rise to speculations
Some users wondered whether the U.S. Securities and Exchange Commission (SEC) played a part or if there were undisclosed legal concerns around Pump.fun’s operations. Despite the fears, Pump.fun’s main platform remains active.
Pump.fun has already faced criticism for scam coins and pump-and-dump schemes. Back in January, the platform faced a proposed class-action lawsuit accusing it of selling “highly-volatile” unregistered securities and raking in nearly $500 million in fees.
And earlier this month, reports surfaced that Pump.fun aims to raise $1 billion through a token sale at a $4 billion valuation, though details about that plan remain sparse.
Cryptopolitan Academy: Coming Soon – A New Way to Earn Passive Income with DeFi in 2025. Learn More
