Pump.fun’s PUMP token drops below presale price, whales dump $160M to exchanges
Токен Pump.fun PUMP упал ниже своей широко разрекламированной цены предварительной продажи, что вызвало опасения по поводу более масштабной распродажи и вызвало волну негодования по всему рынку мемов
Pump.fun token has dropped 43% from ATH and risks deeper fall to $0.0024.
Airdrop delays are likely the key causes of the price drop.
Whales have moved their holding to centralised exchanges, causing sell-off fears.
Pump.fun’s PUMP token has plunged below its highly publicised presale price, sparking concerns of a broader sell-off and sending ripples across the memecoin market.
The steep drop comes just days after the project raised hundreds of millions in minutes, only to face heavy sell pressure and waning community confidence.
The token initially surged after its debut but has since lost momentum.
The early excitement has given way to anxiety, as large investors begin offloading their holdings en masse.
Whales offload $160 million worth of PUMP tokens
Two major wallets identified as early private sale participants have collectively moved over $160 million in PUMP tokens to centralised exchanges.
This large-scale movement, flagged by blockchain analytics firm Lookonchain, has intensified fears of an extended price correction.
The first wallet, labelled “PUMP Top Fund 1,” purchased 25 billion tokens for $100 million in USDC during the private sale.
Over the past week, it has sent 17 billion tokens worth nearly $90 million to exchanges, although it still holds a position worth roughly $29.5 million.
