Pump.fun Token Crashes Below ICO Price After $600M Hype Bust
2025-07-19 05:50:41
Main Idea
The Pump.fun token initially raised over $600 million and saw a 20% price increase, but has since dropped 21% below its ICO price, with 60% of early investors selling their holdings amid weak utility and failed buyback attempts.
Key Points
1. Pump.fun token launched with a $600 million raise and a 20% price jump, but is now trading 21% below its ICO price at $0.00406.
2. Nearly 60% of early investors sold or transferred their tokens, while only 3% increased their holdings.
3. A $2.3 million buyback attempt failed, and open interest in PUMP perpetual contracts dropped by over 16% to $629 million.
4. Competing platforms like LetsBONK.fun are attracting capital away from Pump.fun, further pressuring its performance.
5. Analysts criticized the token for lacking utility, no airdrop despite raising $1.5B, and mirroring a typical post-ICO hype cycle collapse.
Description
The post Pump.fun Token Crashes Below ICO Price After $600M Hype Bust appeared first on Coinpedia Fintech News The Pump.fun token launched with a bang, raising over $600 million in minutes and jumping 20% following a $30 million buyback. But the hype didn’t last long. Now, the token is trading 20% below its ICO price, with nearly 60% of early buyers already selling. This sharp decline comes despite listings on major exchanges like OKX, BitMEX, Kraken, and KuCoin. Traders are losing confidence as...
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