Law firm that sued Pump.fun is being linked to a $23M ‘DOGSHIT2’ coin
At its peak, DOGSHIT2 had a market cap of over $23 million, although it has since fallen to around $2.4 million.
A memecoin believed to have been launched by a law firm to help it build a class-action lawsuit against Solana memecoin creator Pump.fun recently has gained attention in the community, hitting a $23 million market capitalization.
Pump.fun was hit with a proposed class-action suit on Jan. 30 by investors alleging every token it helped make is an unregistered security from which it made nearly $500 million in fees. The lawsuit was filed by US law firms Burwick Law and Wolf Popper on behalf of the investors.
However, observers within the crypto community quickly noticed the address shown in Exhibit C of the court documents — used to show how easy and quick it is to create a coin — matches the wallet address behind Dog Shit Going NoWhere (DOGSHIT2), leading many to believe the law firms are behind the token.