PUMP Token go long or shorting? Long and short contracts are about to clash, market sentiment is extremely divided.

With Bitcoin reaching a historic high of 118,000 today (11th), meme coins are also experiencing a new wave of price surges. As the largest meme coin launch platform, the official token PUMP of Pumpfun has attracted significant attention in the Chinese crypto world. Pumpfun officially confirmed that the public sale of the PUMP token will take place on July 12th this week, and there will be an airdrop. However, the market sentiment surrounding the PUMP token is showing extreme divergence, with both bulls and bears already engaging in battle in the contract market. Is this public sale of the PUMP token a turning point in the meme coin race, or is it the endgame?

1. Pumpfun Token Economic Model and Public Sale Details

Pumpfun, which has gained popularity in the Solana ecosystem through the issuance of meme coins, will officially launch the token issuance event for its native Token PUMP on July 12. Pumpfun stated that PUMP will serve as the platform's native Token with a total supply of 1 trillion coins, and 33% of this will be released in this ICO. Of this, 18% has already been sold through a private round, and 15% will be released at the time of the public offering, both priced at $0.004, and will be fully unlocked on the launch day.

Token allocation:

33% will be sold through the Initial Coin Offering (ICO);

24% reserved for community and ecosystem projects;

20% of the fund is allocated to existing investors;

3% used for live broadcast-related incentives;

2.6% for liquidity and trading platform;

The public offering will be conducted through multiple partnering exchanges, with American users excluded.

II. Share 25% of Profits with Token Holders: Controversy and Expectations

According to sources, the official may distribute 25% of the platform's revenue to token holders. It is reported that Pumpfun has become a token issuance center that exploded in popularity within the Solana ecosystem since early 2024, accumulating over 600 million dollars in platform revenue through the issuance of a large number of new tokens and transaction commissions daily, and even claims that it is "one of the fastest companies in history" to achieve revenues of 100 million, 300 million, and 500 million.

However, there is considerable disagreement within the community regarding the 25% figure. Many even believe that since you have already issued governance tokens, you should share 100% of the profits (revenue minus expenses) with the token holders, or at least let the token holders decide how to use it.

3. Pre-market trading is now online: Long and short battles begin early

(Source: Hyperliquid, Trading View)

Although PUMP has not issued tokens yet, the PUMP-USD perpetual contract has been listed on the decentralized derivatives platform Hyperliquid. According to Hyperliquid data, the current contract mark price for PUMP is $0.0052, which is 30% higher than its ICO price of $0.004. The contract achieved a trading volume of $60 million within 24 hours of its launch, with an open interest of $35 million.

Meanwhile, a well-known platform also launched PUMP contract pre-trading in the afternoon, with a current price of 0.0052 USD. Within less than two hours of opening, the trading volume reached 20 million USD, and the open interest was 7.7 million USD.

However, although the contract price has a premium, there are also people in the community who believe that this is a deliberate setup by the project party to create a false impression of strong PUMP demand, stimulating retail investors' willingness to participate in the public sale.

IV. Market Divergence: Long or Short?

(Source: X)

Chinese Traditional crypto world KOL "Lubi Yajia" (@lubi366) initiated a vote on July 9, with the topic "$PUMP Long or Short?" By the deadline before Friday's submission, a total of 414 votes were cast, with short sellers outnumbering long sellers.

Currently, there is a significant divide in community sentiment regarding the PUMP public sale. Many criticize that the opening valuation of PUMP is so high and does not allow participation from European and American countries, clearly aiming to harvest from Asians. There are also people in the community who have dug up past remarks by the founder of Pumpfun criticizing "listing on exchanges," which now seems particularly ironic.

In summary, the market has significant bullish and bearish divergence regarding Pumpfun. With the upper limit of the contract market, traders are also beginning to place their bets. The long-short game has already begun; which side are you on?

Conclusion:

The official token PUMP of Pumpfun's release is the most anticipated token issuance in the meme track this year and may become a landmark event for the meme ecosystem entering the "post-golden dog era." This public sale, whether it dances with opportunities and bubbles or marks a new starting point for platform value, will test the market, community, and time.