Pump.fun Whales Dump $160M PUMP, Token Dips Below Presale
Since its July 13 Solana-based $500 million ICO, Pump.fun’s PUMP token surged to an all-time high of $0.006888 before reversing sharply. In the latest wave of whale selling, two private-sale wallets moved over $160 million worth of PUMP to centralized exchanges: one offloaded $89.5 million of its 25 billion-token holding (retaining $29.6 million) and the other dumped its entire 12.5 billion-token stake (≈$71 million). The PUMP token now trades around $0.0038—9.2% below its $0.004 presale price and over 80% down from its peak—hitting a low of $0.00364. On-chain buybacks have plunged from $19 million on launch day to $125,000, while BitMEX data shows 59% of presale tokens have been moved or sold. Technical indicators warn of further downside toward the $0.003639 support level. This mass offloading and high unlock schedule have cooled the memecoin market cap from $87 billion to $82 billion, underscoring bearish PUMP tokenomics absent new buyback programs or roadmap catalysts.
Bearish
The mass transfer of over $160 million in PUMP tokens by private-sale whales, combined with a plunge below the presale price and technical indicators pointing to further downside at $0.003639, signals significant selling pressure. On-chain buybacks have collapsed from $19 million to just $125,000, and high unlock schedules mean more tokens are poised to hit the market. With 59% of presale tokens already moved or sold and the memecoin market cooling from $87 billion to $82 billion, there is little in the way of buyback programs or roadmap catalysts to support a rebound. These factors create a bearish outlook for PUMP in both the short and medium term.