Pump.fun Whales Don Dump $160M PUMP, Token Fall Below Presale
Since di $500 million ICO weh Pump.fun do for Solana on July 13, di PUMP token don climb reach im all-time high of $0.006888 before e sharply drop. For di latest whale selling, two private-sale wallets move pass $160 million worth PUMP go centralized exchanges: one sell $89.5 million from im 25 billion tokens (keep $29.6 million) while di other clear im whole 12.5 billion tokens stake (worth about $71 million). Now PUMP token dey trade around $0.0038—9.2% lower than im $0.004 presale price and over 80% down from di peak—reach low of $0.00364. On-chain buybacks don drop sharply from $19 million on launch day to $125,000 and BitMEX data show say 59% of presale tokens don move or don sell. Technical signs dey warn say e fit go further down to support level at $0.003639. Dis big sell-off and high unlock schedule don cool memecoin market cap from $87 billion to $82 billion, show say PUMP tokenomics dey bearish if no new buyback programs or roadmap catalysts show face.
Bearish
The big massa move of over 160 million PUMP tokens by private-sale whales, plus di fall under di presale price and technical signs wey dey show say e fit drop more to $0.003639, mean say selling pressure strong well well. On-chain buybacks don drop from $19 million to just $125,000, plus high unlock plans mean say more tokens go enter market soon. With 59% of presale tokens don move or sold, plus di memecoin market don cool down from $87 billion to $82 billion, e no get much buyback programs or roadmap catalysts wey fit support rebound. All these things make di outlook for PUMP to be negative for short and medium term.