Recent data reveals that nearly 60% of pump.fun pre-sale participants have offloaded their tokens, indicating a notable shift in market behavior 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 wallets still holding. Despite this significant movement, the funding rate for PUMP tokens remains positive, indicating bullish market sentiment. After an initial surge to $0.0068 post-launch, PUMP has since declined by over 19%. BitMEX warns that a continued drop in trading volume could threaten the token's valuation.