Shaams recounted in an AMA how early gains in the 2024 memecoin cycle on Pump.fun led to a peak before a near-total reversal.
Shaams, described in the post as a former employee, said in an AMA that a memecoin trading run peaked at $45 million before collapsing to $17,000. He said he entered early in the 2024 memecoin cycle, made his first $100,000, and then put 20% of his position into Pump.fun, a Solana-based memecoin launch and trading platform. The account reflects the extreme volatility and concentration risk common in speculative token trading, where early paper gains can evaporate quickly when liquidity thins and sentiment turns.