FUD about ‘Solana at $5’ spreading online
A wave of FUD has emerged on X (Twitter) following a class-action lawsuit filed against PumpFun that also mentions Solana Labs and the Solana Foundation. Some users have begun to spread fears of SOL crashing to $5.
Source X
In reality, the class-action lawsuit concerns losses on the PumpFun memecoins. The main allegation is that insiders supposedly bought tokens before retail investors, took profits, and left others with losses. The plaintiffs are attempting to link these actions not only to PumpFun but also to Solana’s infrastructure, including the transaction ordering and validator operations. The court has only allowed the case to proceed and the complaint to be updated; this does not imply guilt or a ruling on the merits. A full trial could take months or years, and such cases often fail at early stages.
Therefore, there is currently no reason to expect a sharp drop in SOL, and the situation will take time to clarify through the judicial process.
