Haciyev Reşit 
One of the notable developments in the crypto market has occurred on the PumpFun (PUMP) token side. On-chain data revealed that developer-linked wallets associated with the project executed large-scale sales. In particular, the sale of millions of dollars’ worth of PUMP tokens within a short period fueled speculation that selling pressure could intensify. These sales from developer-associated wallets increased short-term confidence concerns among investors and placed additional pressure on the PUMP price. Analysts note that wallet activity linked to project teams is typically monitored closely by the market, as such transactions can directly influence investor sentiment. Therefore, any additional sales or significant on-chain movements from developer wallets may play a critical role in determining PUMP’s price direction in the coming days.
Nearly $10 Million Sold From Developer Wallets
According to on-chain analysis, a wallet connected to the memecoin launch platform PumpFun sold its entire PUMP holdings for approximately $8.02 million. The proceeds were reportedly converted into USDC, with an average sale price of around $0.0021 per token. This move was interpreted as a significant position reduction on the developer side. Additionally, another wallet linked to PumpFun developers sold roughly $2.57 million worth of PUMP tokens. However, this wallet still reportedly holds around 3.54 billion PUMP tokens valued at approximately $7.4 million. Market participants have pointed out that this remaining balance could create further selling pressure if liquidated. As a result, investors have begun closely monitoring any potential new transfers or sales from these wallets. These developments suggest that short-term volatility in PUMP’s price may continue.
PUMP Price Under Pressure
Following the reported sales, PUMP experienced a modest pullback. According to recent market data, the token declined by about 2% over the past 24 hours, reinforcing expectations that selling pressure may persist. While the short-term decline remains limited, investors are paying close attention to the impact of developer wallet activity on price action. Looking at a broader time frame, the picture is more striking. PUMP is currently trading approximately 82% below its all-time high reached about seven months ago. This significant decline suggests that interest in the project has weakened compared to previous periods and that the hype surrounding memecoin launches has considerably faded.
PumpFun gained substantial popularity during the period when memecoin launches on the Solana network surged. Many tokens launched through the platform quickly achieved high trading volumes and attracted strong investor attention. However, as enthusiasm in the memecoin sector has cooled in recent months, activity within the PumpFun ecosystem has also slowed. Over the past month alone, PUMP has declined roughly 15%, and developer-linked sales have further weakened market confidence.
Assessment
The multi-million-dollar sales from PumpFun developer wallets may continue to create short-term pressure on the PUMP token. Trading significantly below its all-time high and facing the possibility of additional sales increases the risk factor for investors. In the coming period, developer wallet movements and overall platform activity will likely be key factors influencing PUMP’s price direction.
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