A company called Pump Pumpkin threatened to sue its rival, Pump.fun, over undisclosed fees, claiming damages of over $1 billion. Following the lawsuit threat, Pump Pumpkin launched a new token, PPA, which quickly collapsed due to early insiders selling off their holdings. The token plummeted by 92% just minutes after its creation, leading to further drops as more tokens were sold. Despite early hype and marketing through social media, several investors reported significant losses. Pump Pumpkin's founder, Badash, provocatively boasted about profiting $800,000 from the situation, further inflaming investor outrage. While claiming to transition from PPA to a new governance token PP, many investors felt scammed, leading to widespread criticism and calls for accountability. The project is now facing major backlash and skepticism regarding its legitimacy, with angry investors flooding channels and questioning the feasibility of recovery.

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