Pump.fun token drops 32% as early backers offload $160M in memecoins
Main Idea
The Pump.fun token (PUMP) experienced a 32% price drop as early backers sold $160 million worth of tokens, leading to concerns about its post-launch sustainability and market liquidity.
Key Points
1. PUMP token hit an all-time low of $0.003642 on July 22, 2025, after a 46.5% decline from its peak.
2. Two major wallets ('PUMP Top Fund 1' and 'PUMP Top Fund 2') offloaded over $160 million in tokens, contributing to the price drop.
3. Despite raising $500 million in its ICO, 60% of presale investors sold their tokens within two days of launch.
4. The memecoin market briefly reached $87 billion before retreating to $82 billion, with PUMP's market cap at $1.32 billion.
5. The aggressive sell-off highlights risks associated with tokens that have high initial hype but lack sustained investor confidence.
Description
The PUMP token from Pump.fun is facing significant price pressure as early investors begin to offload large volumes of tokens onto exchanges. Just one week after its much-hyped launch on July 15, the token has fallen 32% from its initial coin offering (ICO) price, sparking concern over short-term investor sentiment and market liquidity. Two wallets, identified by Solscan as “PUMP Top Fund 1” and “PUMP Top Fund 2,” collectively sent over $160 million worth of tokens to centralised exchanges, acco...
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