- Nearly 60% of Pump.fun ICO participants sold or moved their tokens within a week of launch.
- The PUMP token price dropped about 19% after reaching its peak value.
- The token debut price was 40% higher than presale levels, despite a quick unlock of tokens.
- Pump.fun‘s user volume has declined, which could impact the token’s value.
- New competition and changing market share may affect Pump.fun‘s future position.
Almost 60% of participants in the Pump.fun initial coin offering (ICO) have sold or transferred their PUMP tokens since the launch last week. The data comes from crypto exchange Bitmex, which analyzed blockchain records linked to the presale.
Out of 10,145 wallets that joined the presale, 6,042 wallets—about 59.6%—sold or transferred their tokens to centralized exchanges or other wallets, according to BitMEX. Meanwhile, 3,791 wallets (37.4%) are still holding their tokens, and just 312 wallets (3%) have actually increased their holdings in the week after launch.
After debut, the PUMP token price surged to an all-time high of $0.0068, based on CoinGecko data. Within a day, it dropped to $0.0055, reflecting a 19% decline in value.
Despite this drop, BitMEX analysts said the launch exceeded expectations. They noted that the token started trading at $0.0056, which is 40% higher than its presale price, even though participants could sell right away. “Typically, such conditions as $PUMP — large floats and quick profits—lead to aggressive hedging and strong downward pressure in derivatives markets,” BitMEX stated. Derivatives funding rates, which often turn negative when traders expect a fall, remained positive, showing continued buyer confidence.
However, BitMEX also warned that falling platform volume could threaten the token’s valuation. “Pump.fun’s volumes have been declining — from $11.6 billion in January to $3.65 billion in June. If this trend continues, the current valuation might be hard to justify,” the exchange said.
The ICO for Pump.fun was a major event in 2025, raising $500 million and selling out in 12 minutes, as covered here. The broader community remains split on the impact of Pump.fun and memecoins on the crypto market, with some embracing the growth and others voicing concern.
Pump.fun now faces increasing competition from new platforms, such as LetsBonk, and its share of the Solana memecoin launch market is beginning to decrease. More details on this shift are provided in this report.
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