Meme coin traders accuse Pump.fun of causing market oversaturation and the proliferation of scams.

Odaily Odaily News: The token issuance platform Pump.fun has caused a lot of controversy recently. Recently, the platform cancelled the fee for creating tokens and instead offered small rewards to those who successfully deployed tokens, resulting in the launch of more than 23,000 tokens in the past 24 hours, setting a new high in fees of $5 million. However, data from Dune shows that only 250 tokens successfully left the platform, with a success rate of only 1%. This low success rate has frustrated traders, who believe that the oversaturated market increases the risk of scams and "RUG" incidents. Although Pump.fun claims to have taken measures to protect users, traders still hope that there will be better verification and filtering mechanisms to identify and avoid scams. (Decrypt)