Could Solana Price Hit $120 After ‘Pump.Fun’ 4.1 M SOL Sell-Off?
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The post Could Solana Price Hit $120 After ‘Pump.Fun’ 4.1 M SOL Sell-Off? appeared first on Coinpedia Fintech News In Q2, the Solana price rose significantly, starting from a low of $96 in April to $187 by the third week of May. This marked a remarkable gain of 93.5% over 46 days. However, by the end of May, Solana’s gains had dropped by over 20%. The price retested a key level at $144, identified by the Fixed Range Volume Profile tool, by mid-June. In June, optimism grew, suggesting a potential rebound. Yet, uncertainty loomed. A negative development occurred that has shattered investor confidence in the short term. A popular Solana-based memecoin launchpad sold 4.1 million Solana from its holdings, which alarmed investors. What could happen next in the Solana price? Keep reading to get a full grip on this latest event. $4.1 Million Solana Holding Dumped By “Pump.fun” Pump.fun is a launchpad for memes that gained extensive attention for driving the Solana memecoin wave. Still, it has been criticized for enabling pump-and-dump schemes and quick-turnaround token launches. Also, the official X accounts were suspended for Pump.fun and its founder, Alon Cohen, leaving significant room for speculation within the crypto community. Some users even relate to ongoing investigations or potential legal concerns. Is this the beginning of the end for PumpFun? • X now flags pumpfun links as unsafe• Top trading bots & affiliates just got suspended• Even Pumpfun itself is frozen—right before they could cash out their tokenSomething big is coming. Stay alert. pic.twitter.com/G2AliXxm5F — Phantom_Defi (@0xPhantomDefi) June 16, 2025 Moreover, in recent data from lookonchain, Pump.fun has been selling off its SOL holdings from May 19, 2024, onwards. It has dumped approximately 4.1 million SOL crypto, estimated at $741 million, with an average selling price of around $180 per…
Filed under: News - @ June 17, 2025 5:28 pm