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According to Onchain data, a wallet linked to the memecoin launch platform PumpFun sold all of its $PUMP token holdings for $8.02 million. The average selling price of the $PUMP funds, which were converted to USDC, was $0.0021.
However, another PumpFun wallet linked to the developers conducted a sale of approximately $2.57 million worth of $PUMP tokens. This wallet currently holds 3.54 billion $PUMP tokens, worth $7.4 million.
According to the latest market data, the price of $PUMP has fallen by approximately 2% in the last 24 hours. However, the token is currently trading 82% lower than its all-time high price level reached about 7 months ago. At that time, PumpFun gained incredible popularity, particularly with the rise in popularity of memecoin launches on the Solana network.
However, the platform has lost some of its former popularity, and the $PUMP token has lost 15% of its value in the last month.
*This is not investment advice.