While BTC continues to fluctuate, ETH remains above $3,500, providing short-term optimism for altcoin traders. However, the situation for SOL Coin appears more complicated. Recent claims suggest that if true, Solana 
$240 (SOL) could face significant instability. What event is raising concerns about the negative impact on Solana?
Solana May Decline
An attorney from Arkham recently shared information indicating that Pumpfun might soon be shut down. It’s well known how meme coins within the Solana ecosystem support price stability. This year, despite the market not being particularly exciting, SOL Coin has seen notable price increases, primarily due to heightened activity on the network and significant interest in meme coins.
At one point, decentralized exchange platforms on the network reached record trading volumes. If Pumpfun is shut down or faces any legal proceedings, it could severely dampen the excitement surrounding SOL Coin by disrupting the production center for these meme coins.
“Pumpdotfun is making numerous mistakes concerning social media law. There are no terms of service, no DMCA registration, no copyright policy, and no privacy policy. Assuming it is based in the U.S., these are careless, foolish oversights. I wonder if they plan to stay online for long.”
Pumpfun and Harmful Content
Another significant issue raised by the attorney relates to the platform’s live broadcasts, which feature extreme content. Arkham’s attorney noted, “Pumpdotfun is currently ironic and foolish. People say, ‘Haha, I’ll do [something terrible] if I can’t get $1 million,’ but no one takes it seriously.”
The emergence of users threatening self-harm or violent actions if tokens do not reach specific price levels complicates matters. Should anyone harm themselves or others, mainstream media would have the sensational headlines they seek, putting Pumpfun in a precarious position regardless of its jurisdiction.
