pump.fun Lianchuang: Retail investors choose Meme coins to make money and have fun, and don’t care about technology

Odaily News Alon Cohen, co-founder of pump.fun, said that most technology-based altcoins have the same value proposition as meme coins, but with low circulation, high FDV, and involvement from VCs, who are notorious for using retail traders as exit liquidity.
Cohen responded to a post suggesting that the platform disrupts altcoin price cycles, saying that pump.fun existed months before the altcoin space experienced a downturn starting in April 2024.
“Retail investors suffered too much in the last cycle to come back and invest in the ‘future of finance,’ ” Cohen wrote, explaining the April 2024 altcoin crash.
Cohen said, “Most people with day jobs don’t care about technology, they care about personal fulfillment” and want to make a modest amount of money trading while having fun.
The social media exchange highlights the growing tension between technical altcoin investors who value utility and traders who speculate on asset prices without proven use cases.