PANews reported on January 24 that GMGN data showed that the market value of ALON, the meme token of the same name owned by Pump.fun co-founder Alon Cohen, once exceeded US$260 million, and has now fallen back to around US$140 million.

Earlier today , Pump.fun co-founder Alon Cohen said that he did not create the ALON token, but had taken over the token TG group and paid the Dexscreener fees.