Recent data reveals that a significant portion of $PUMP tokens have been moved to centralized exchanges, raising concerns about market sustainability despite positive funding rates.
BitMEX reports that approximately 60% of participants in the pump.fun pre-sale have sold or transferred their PUMP tokens to centralized exchanges, leaving only 37% of addresses still holding. The funding rate for PUMP tokens remains positive, reflecting bullish sentiment, although the token has dropped over 19% from its initial surge to $0.0068. BitMEX cautions that declining trading volume could threaten the token's valuation.