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A new meme coin was launched on Pump.Fun, quickly gaining immense popularity and reaching a trading volume of $500 million in its first 24 hours. The launch was characterized as a 'fair launch,' where the creator initially bought a small percentage to establish the coin. This unexpected success led to discussions about the nature of meme coins and the skepticism concerning whether it was a pump-and-dump scheme. The creator emphasized that no one was looking to cash out and that the community should be the focus rather than the market price.