Traders allege Pump.fun rival LAUNCH pulled the rug as market cap collapses

Crypto traders are sounding the alarm over LAUNCH, a project launched with pledges to dismantle Pump.fun's market dominance by eliminating bundling, rug pulls, and unfair token rollouts. According to crypto commentator wyck, the team behind the project bundled the token up to a $3 million market valuation before immediately dumping it down to around $100,000 and wiping its social media presence.^[3]

Data tracked by analytics account Stalkchain showed the token's market cap collapsing from $1.5 million to roughly $250,000 within an hour. Stalkchain reported that two wallets took heavy profits right before the crash: one address turned $7,770 into $36,100 for a $28,200 gain, while trader @TheMarksMan cashed out $35,100 from an initial $6,660 stake to pocket $28,500. Token holders had previously reported that developer attention had shifted toward new launchpad coins as the token price bled. Minutes after the sell-off, the developer reportedly posted that he was giving up and deleted his account.^[2]

Social media reactions followed swiftly as community members decried widespread financial damage. Trader @yourfriendSOMMI noted that prominent influencers and groups like the LA Vape Cabal had previously endorsed the venture. A post shared in the thread by @FabianoSolana reported that dozens of participants suffered four- to five-figure losses, with individual accounts down between 62% and 91%, while confirming that the project's official @_launchX handle had been deleted.^[1]