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The suspension on X of Solana meme coin launchpad Pump.fun, one of the most important hubs in crypto, has delivered a heavy blow to meme coins just as the sector begins rebuilding momentum.
While Pump.fun’s site remains live, the social media blackout on X cuts off a key promotional channel, delivering a setback to Solana and the entire meme coin ecosystem.
Built on Solana, Pump.fun has powered some of the biggest viral meme coin launches, including the Trump family’s Official Trump and Official Melania Meme meme coins early this year.
Pump.fun: Is SEC Investigation Behind Its X Account Suspension?
Some in the crypto community speculate that the suspension may be because the US Securities and Exchange Commission (SEC) is looking to launch an investigation into Pump.fun and its team, while others said the suspension might have to do with Pump.fun using a banned third-party application programming interface (API).
If you're sad 😢 @pumpdotfun is gone, you’re part of the problem. Same scammers, same dumb money, zero giveback. Retail got nuked. Let’s rebuild with real builders, not greed-fueled leeches. @a1lon9 never gave back. Just raised more. Pure cancer of the cycle. #Bitcoin #pumpfun pic.twitter.com/rJZOwoN0yf
— yagobi.sats (@Yagobiverse) June 16, 2025
With the real reason for the suspension still a mystery, investors and traders who had actively engaged with Pump.fun are starting to question the popular meme coin platform’s fate.
Pump.fun hasn’t commented on the reason behind its suspension, adding to uncertainty over its future, while a message on its X account simply says, ”X suspends accounts which violate the X Rules.”
Igniter Protocol Could Usher Solana Meme Coins Into A More Scalable Era
Though Pump.fun has been central to the meme coin market’s success, the potential damage might be offset by a new platform that’s about to launch.
The meme coin launchpad Igniter Protocol is built on the new layer-2 Solaxy (SOLX) and is expected to launch next week when Solaxy goes live. It’s well placed to fill the gap left by Pump.fun and keep Solana’s meme coin momentum alive.
Introducing: Igniter Protocol 🔥
We’re excited to officially announce Igniter — Solaxy’s native token launchpad protocol. Igniter gives $SOLX holders the power to create, launch, and bootstrap their own tokens directly on the Solaxy rollup.
This is more than a launchpad. It's… pic.twitter.com/DhNIguaPct
— SOLAXY (@SOLAXYTOKEN) May 22, 2025
Solaxy, the first scaling solution for Solana, has attracted substantial attention from crypto investors and traders. This has resulted in the project posting one of the strongest presale showings of the year, with its total ICO raise surpassing $53.9 million.
That strong interest around Solaxy could end up driving meme coin die-hards to Igniter Protocol, especially with Pump.fun’s future in question.
Being built on top of a layer-2 network also means that Igniter Protocol already has a major advantage in terms of scalability over Pump.fun. At the height of the meme coin frenzy, Solana was unable to keep up with the demand when wave after of wave of new tokens were launched on Pump.fun.
When the next meme coin mania kicks off, traders can be sure there will be no such constraints for transactions routed through Solaxy’s Igniter Protocol with Solaxy aiming for 10,000 transactions per second.
Popular Youtube channel 99Bitcoins, with over 723K subscribers, has predicted 100X gains for the project’s native SOLX token once the project launches.
Such growth could help spark one of the biggest meme coin frenzies of all time, with Igniter Protocol helping fill the space created by Pump.fun’s ban from promotional activity on X.
Learn more about the Solaxy presale, which ends in less than six days.
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