• On the 12th of July, Pump.fun announced the initial coin offering of its native token, PUMP.
• Ever since the token’s price has failed to hold on to or even surpass the price it was initially offered at.

Pump, the native token of the well-known Solana memecoin launchpad Pump.fun, has been making headlines in the last few days. A few weeks ago, on the 9th of July, Pump.fun announced the launch of their token ICO.

According to the details they shared on X, the ICO was scheduled for the 12th of July for the sole purpose of giving back to the community and “incentivizing the ecosystem.” Based on the details shared, only 33% of the tokens total supply was sold at the ICO, with the remaining 67% shared between investors, the community, and the team.

Also Read: PUMP Token Crash: Price Dips Below Presale at $0.00406

Source: Pump.fun (X)

During the ICO, Pump.fun successfully raised $500 million, and they did it within 12 minutes after the launch.

The Aftermath of PUMP ICO

After the successful launch of the token, the price started to plummet. In fact, CoinMarketCap data showed that the price went down by almost 37% after the ICO, showing that the token didn’t get new interest from investors outside those who participated in the ICO.

When the token launched, the price was about $0.00522, but days after the ICO, it broke below that level and crashed to $0.00406, signaling weakness in the token’s future. As recorded by Tronweekly, the total market cap also declined significantly to $1.43 billion.

Just as expected, investors started to sell off and withdraw their investments in the token. Data shared by Lookonchain showed that two major investors sold their PUMP and deposited their money in exchanges.

The first whale had originally spent about 100 million USDC to buy 25 billion PUMP tokens, and after the price crash, he sold off 17 billion PUMP worth $89 million and is still currently holding 8 billion PUMP.
On the other hand, the other whale who spent 50 million USDC to buy 12.5 billion PUMP sold off all his holdings.

The Future of PUMP

The future of the token remains unknown, as many have predicted a potential bounce back and others a slow die-off. In all of this, it is important for investors and traders alike to take note of the high risk involved in participating in presales and approach the ever-volatile crypto market with caution.

Also Read: Filecoin’s 2025 Vision: From 29% Utilization to Full-Paid Storage