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Pump.fun’s new $PUMP token began public trading today. The token launched at a price of $0.0062, over 50% higher than its public sale two days ago. Despite skepticism and setbacks, the launch has proven notably successful.
So far, around 55% of $PUMP trading is on decentralized exchanges, including Pumpswap, Raydium, and Meteora. Bybit and KuCoin represent the majority of $PUMP’s CEX trade volume.
$PUMP Is Now Available for Trading
Pump.fun, the most popular meme coin launchpad, has built a lot of hype with its new $PUMP token. After some confusion regarding the launch announcement, the presale took place on July 12, selling out in 12 minutes.
Today, $PUMP trading is now open to the public, allowing retail investors to participate:
As far as token launches go, Pump.fun has created a huge hit with $PUMP.
According to data from GMGN, $PUMP started trading at $0.0061301, giving it a fully diluted valuation (FDV) of $6.13 billion. This is impressive compared to its public sale price of $0.004, representing an increase of approximately 53.25%.
Naturally, the token’s price fluctuated throughout the day thanks to retail investors’ profit-seeking. After Pump.fun announced public trading, $PUMP soared dramatically, but quickly fell back down.
Still, its current price is higher than its presale valuation, which seems like an encouraging sign.
Currently, around 55% of trading volume is on decentralized exchanges, with only Bybit and KuCoin representing CEXs. Pump.fun’s own Pumpswap platform represents around 20% of $PUMP trading activity, and Raydium and Meteora make up most of the remaining DEX volume.
All things considered, Pump.fun did quite well with the $PUMP launch. The presale faced several key setbacks in addition to the announcement mixup: The platform lost its market dominance, the community criticized the presale, and many whales bet against the token.
Nonetheless, $PUMP had a good showing, demonstrating high enthusiasm. While Binance is yet to list the token on its spot market, $PUMP is available on Binance Futures.