Nearly 60% of presale members in Pump.enjoyable’s preliminary coin providing (ICO) have already bought or transferred their tokens to centralized exchanges (CEXs) or different wallets, in response to knowledge shared by BitMEX.
Citing onchain knowledge, the crypto trade stated that of the ten,145 ICO members within the PUMP presale, 6,042 wallets (59.6%) had already bought or transferred their tokens to CEXs.
In the meantime, 3,791 wallets (37.4%) continued to carry their tokens, whereas a small group of 312 wallets (3%) had elevated their holdings every week after the token launch.
PUMP token has dropped almost 20% from its peak
After the presale, the PUMP token rallied, reaching an all-time excessive of $0.006812 on Wednesday, in response to CoinGecko. The token dropped to $0.005468 the subsequent day, a 19.1% decline in worth.
Regardless of the latest drop, BitMEX analysts stated the PUMP token had already defied expectations. Although it had a excessive unlock proportion at launch, it nonetheless debuted at $0.0056, 40% greater than its presale worth.
“Usually, such circumstances as $PUMP — giant floats and fast earnings—result in aggressive hedging and powerful downward stress in derivatives markets,” BitMEX wrote. This results in heavy detrimental funding charges as merchants rush to brief the token.
Nonetheless, BitMEX stated the token’s funding charges have been trending constructive. This implies the market reveals confidence that the token should improve in worth.
Regardless of this, BitMEX identified that whereas the memecoin launchpad’s present efficiency could justify PUMP’s token valuation, it might be troublesome to maintain if its volumes proceed to say no.
“The priority? Pump.enjoyable’s volumes have been declining — from $11.6 billion in January to $3.65 billion in June. If this development continues, the present valuation may be exhausting to justify,” BitMEX wrote.
With a brand new competitor like LetsBonk on the rise, Pump.enjoyable’s monopoly on Solana memecoin launches is being challenged, with its market share beginning to lower.
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Pump.enjoyable presale sells out in minutes
The PUMP presale was one of the vital profitable token launches in 2025. On Saturday, Pump.enjoyable raised $500 million via the ICO, which bought out in 12 minutes.
Regardless of its success, group members remained divided on the consequences of Pump.enjoyable and memecoins on the crypto house. Some stated it had opposed results, whereas others celebrated Pump.enjoyable’s development.
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