Stream Guy Burns LIVE Tokens During a Live Stream on pump.fun, Aiming for a $100 Million Market Cap

Yesterday, the developer behind the crypto LIVE burned tokens worth $415,000 during a live stream on pump.fun. He indeed burned 14.6 million LIVE tokens

The developer behind the crypto LIVE burned tokens during a live stream on pump.fun.

He burned 14.6 million LIVE tokens on camera and showed the completed burn transaction on his computer screen.

The crypto LIVE on pump.fun

The crypto LIVE is a token on Solana created by Stream Guy.

The ticker of the token is LIVE, not to be confused with other tokens that share the same ticker.

The name of the crypto is Stream until 100M MC, and it is listed only on some DEX on Solana.

It was launched just yesterday, with an initial price below 0.00013.

In a few hours, its price went up to 0.00016, only to return fundamentally to where it started.

Its supply is around 1 billion tokens, so the 14.6 million burned yesterday really aren’t that many.

The live burn is essentially a promotional initiative for the token, also because since Stream Guy himself created the tokens, the fact that he burned just under 1.5% of them is of little note.

The crypto pump.fun platform

The website pump.fun is a platform that allows for the creation of tokens on Solana.

Those who create tokens on this site can then also stream live on a dedicated channel, like Stream Guy is doing.

It is no coincidence that this token is called “Stream until 100M MC,” because its creator plans to stream live until it reaches a market capitalization of $100 million.

At the moment, his LIVE token has a capitalization of around 13 million, so it will probably take a while before it can reach 100, if it ever does.

On the Solana network, thousands of tokens have been issued recently, since the cost of issuing them is negligible, and the site pump.fun is playing a role in this bull.

The crypto Pump&Dump scheme

The project by Stream Guy to bring the market capitalization of his LIVE token to $100 million seems like the classic pump&dump scheme.

After launching the token, the goal is to pump it as much and as quickly as possible, up to the point where it can no longer be pumped.

At that point, the pump is abandoned, and the price usually undergoes a strong, deep dump almost immediately.

After the first small pump&dump yesterday, which however only brought the price back to where it had essentially started, today there was another slight rise up to 0.00013.

To reach a market cap of $100 million, its price would have to reach 0.0001, and at this rate, it could take several days, unless there is a sudden pump.

On one hand, it becomes difficult to imagine what Stream Guy could do to pump it so much, and on the other hand, it becomes difficult to imagine that he could really manage to stay streaming until that moment.

The live

At the moment in the live, there are less than 2,000 people connected.

However, there are already more than 23,000 Solana addresses that hold LIVE tokens.

Note that the trading volume in the last 24 hours has already been over $100 million, and this data raises some doubts about who is really behind this project.

To put it better, with less than 2,000 people following the live, how is it possible that the token has already moved more than $100 million?

And if the total number of wallets is just over 23,000, it means that on average a wallet holding LIVE has moved them for a value of $5,000.

These aren’t absurd numbers at all, but they still cast suspicion on the fact that those volumes have been artificially pumped.

Moreover, the liquidity of the main trading pair is less than $1 million, which adds doubts to the fact that volumes of more than 100 million have already been actually traded in less than 24 hours.

This does remain an interesting experiment, however, because it can give an idea of the real potential of similar tools, even if the initiative should be considered crazy and devoid of any real importance.