Two new memecoins based on Solana, ACT and PNUT, sharply increased in price after the announcement of their listing on the largest cryptocurrency exchange, Binance. Created through the platform Pump.fun, these tokens attracted investor attention and caused a buzz in the market. However, the rapid success of one of the tokens did not come without disagreements within the community.
Sharp Surge
After the announcement of the listing on Binance, PNUT's market capitalization grew from $129 million to $447.5 million (+247%). At the time of writing, the figure stands at around $441 million with a price above $0.44 per token.
In turn, ACT showed an even more impressive result, soaring more than 2000% after the listing announcement — from $21 million to approximately $460 million. Currently, the asset's market capitalization is even higher, having exceeded $520 million at the time of writing.
ACT and Disagreements with the Creator
The growth of ACT, or AI Community Token, was complicated by disagreements between the community and the supposed co-founder of the project, known under the pseudonym Amplifiedamp (Amp). The token is positioned as a tool for promoting research in artificial intelligence, education, and collaboration. However, Amp publicly stated that he never approved the use of his name and brand for this project.
In a post on X, he noted that he launched the initiative Act I: The AI Prophecy in August to support researchers and AI agents, aiming to reduce dependence on large investors. However, the launch of the ACT token through Pump.fun occurred without his consent, although he was given a portion of tokens to support his work.
"They used my brand without my permission. I distributed, burned, or sold all the ACT tokens that were given to me. I do not want the token to be traded on CEX," Amp emphasized.
He also expressed dissatisfaction that holding the token had become "stressful" for him and pointed out problems within the community, including constant disregard for his requests.
The community, in turn, reacted negatively to Amp's complaints, noting that the developer exited the project after earning about $1 million. They are now ready to move forward without him, as they initially believed in the project, unlike Amp. They view his current posts as a way to exert pressure and attempt to cause more significant harm to the project.
Binance Warnings
It is also worth noting that Binance has marked these tokens as highly volatile. Therefore, despite the impressive growth, caution is advised, and risks should be carefully assessed before investing. High volatility means that prices can quickly change both upwards and downwards, carrying additional risks for market participants.
