At its peak, the DOGSHIT2 memecoin reached a market cap of over $23 million, though it has since dropped to approximately $2.4 million.
On February 3, 6:30 AM UTC, this article was updated to reflect the correct launch date of DOGSHIT2.
The law firm responsible for the class-action lawsuit against Solana memecoin creator Pump.fun is now tied to a controversial memecoin, DOGSHIT2. The coin, which gained significant attention after reaching a $23 million market cap, is believed to have been launched to help fund the lawsuit.
The lawsuit, filed on January 30 by Burwick Law and Wolf Popper on behalf of investors, accuses Pump.fun of creating unregistered securities and making nearly $500 million in fees. Observers quickly noticed that the wallet address listed in Exhibit C of the court documents matched the one behind DOGSHIT2, leading many to speculate that the law firms are connected to the token.
DOGSHIT2 has seen a surge in activity and value since the lawsuit’s filing, with its market cap reaching over $23 million before falling back to $2.4 million. The token’s price hit a high of $0.003968 on February 2, only to drop by 34%. It has since risen 6% in the past 24 hours.
Burwick Law and Wolf Popper have yet to comment on the connection.
