Pump.fun Presale Dump: Nearly 60% of PUMP Buyers Have Already Offloaded Tokens, BitMEX Finds
Despite a sharp post-launch sell-off, funding rates have stayed positive, indicating surprising resilience in trader sentiment.
As usage declines and competition rises, sustaining PUMP’s multi-billion-dollar valuation could become increasingly difficult.
Almost 60% of early investors in Pump.fun’s highly anticipated PUMP token have already sold or moved their tokens off-platform, according to analysis by BitMEX.
On-chain data shows that of the 10,145 wallets that took part in the US$500 million (AU$769.5 million) token sale, 6,042 (59.6%) have transferred their holdings to centralised exchanges or external wallets. Meanwhile, 3,791 wallets (37.4%) are still holding onto their allocations, and only 312 wallets (3%) have increased their PUMP exposure since launch.
It’s been almost 1 week since the @pumpdotfun ICO
From 10,145 participants who contributed $448.5M:
59.6% sold or transferred
37.4% continue to HODL
3% increased their holdings
Our quant reveals traders are still BULLISH on $PUMP. Read onhttps://t.co/mIH0MN8Tby pic.twitter.com/pFdAa2FXfH
— BitMEX (@BitMEX) July 17, 2025
The presale, completed in just 12 minutes, valued the token at US$0.004 (AU$0.0062) and gave the project a fully diluted valuation of US$4 billion (AU$6.16 billion). Following its listing, PUMP opened at around US$0.0056 (AU$0.0086) before briefly spiking to US$0.006812 (AU$0.0105). However, prices fell back to US$0.005468 (AU$0.0084) within 24 hours, a 19.1% drop from the peak.
Related: Pump.fun Acquires Kolscan to Gamify Solana Trading Ahead of US$4 Billion ICO
Strong Sentiment Despite Sell-Off
Despite this downturn, BitMEX noted that market sentiment has remained unexpectedly strong. Positive funding rates have suggested ongoing bullish interest in the token, defying the usual trend of sharp declines and aggressive shorting following large ICO unlocks.
Pump.fun, the Solana-based memecoin platform behind PUMP, has seen its user base grow, with around 100,000 daily active users. The platform reportedly generates US$540 million (AU$831 million) in annual profit, giving PUMP a price-to-earnings ratio of 9.6x.
Still, declining activity could undercut the token’s valuation. Monthly volumes have slid from US$11.6 billion (AU$17.9 billion) in January to US$3.65 billion (AU$5.62 billion) in June. With competitors emerging and trading volume waning, questions remain over whether PUMP can maintain its momentum.
Related: XRP, DOGE and SOL: Thumzup Board Greenlights Crypto Expansion Beyond Bitcoin
The post Pump.fun Presale Dump: Nearly 60% of PUMP Buyers Have Already Offloaded Tokens, BitMEX Finds appeared first on Crypto News Australia.
Filed under: Bitcoin - @ July 18, 2025 6:22 am