Gen-Z Kid Launches Memecoin on Pump.fun, Rugs it at $30k

There’s a new bait on Crypto Twitter [CT] everyday. QUANT is all over the timeline today. Long story short: A kid launched the token and walked away with thousands of dollars in profit.

Details

• During the Asian trading hours on Wednesday, a Gen-Z trader launched QUANT
• It was created on the Solana-based meme coin-generating platform Pump.fun
• He was on live stream and ended up rugging the project at $30k

Why should you pay attention?

• According to on-chain tracking platform Lookonchain, the 51 million QUANT tokens he sold are now worth $4 million
• He then created a couple of other tokens: LUCY and SORRY
• The Gen-Z trader sold all of them for another profit of 103 SOL, i.e. roughly worth $25,000

Who said what?

• Community members outrightly called out his actions. A particular user tweeted, 

“This quant kid deployed a second coin "im sorry" AND RUGGED IT AGAIN. You cannot make this up, this is the most entertaining industry on the planet bar none.”

• Meanwhile, others did not hesitate to call him a “wannabe Sahil” — the developer who socially engineered several celeb social media accounts to launch new coin tickers under their name and promote them

Zooming out

• Several other memecoins around this incident have started floating around on Pump.fun
• Called ‘The Cabal,’ a token related to his family has already managed to amass more than $800k in capitalization
• Meanwhile, other variants had market caps hovering in the $30-$70k bracket at press time