Pump.fun co-founder defends memecoin platform, saying most traders prioritize enjoyment over tech

Alon Cohen, co-founder of Pump.fun, recently responded to claims on X suggesting that the Solana-based platform tailored to the memecoin market disrupted the altcoin cycle, according to Cointelegraph. Cohen argued that many technology altcoins share the same basic offerings as memecoins but usually come with low availability, high fully-diluted values and the involvement of venture capitalists. These capitalists are known to often exploit retail traders as exit liquidity. He explained that most people with day jobs aren't particularly interested in technology; instead, they prioritize personal enjoyment and aim to earn a modest profit from trading.