PumpFun Dumps $16.8M SOL Stack—Memecoin Casino Cashing Out While the Sun Shines?

Solana’s degenerate playground just lightened its bags—hard. PumpFun, the memecoin launchpad that turned ’degen’ into a business model, offloaded over $16.8M worth of SOL in a single move. Was it profit-taking or panic-selling? The blockchain won’t tell, but the timing reeks of institutional-grade opportunism.

Behind the scenes: While retail traders chase the next dogwifhat, platforms like PumpFun operate with hedge-fund efficiency—buying the rumor, selling the news, and leaving bagholders whispering ’wen Lambo?’ into their Discord chats. A masterclass in crypto’s brutal asymmetry.

Closing thought: In a market where ’fundamentals’ mean which influencer shills your token, maybe the real utility play is running the casino, not betting at the tables.

PumpFun, a leading Solana blockchain-based platform allowing the development and trading of meme coins, has restarted its $SOL selling spree. As per the report from Onchain Lens, 4 newly developed wallets associated to PumpFun have recently extracted up to 111,993 $SOL coins from the crypto exchange Kraken to offload them. The on-chain analytics platform took to social media to disclose this development.

PumpFun (@pumpdotfun) is once again selling $SOL.

4 newly created wallets withdrew 111,993 $SOL from #Kraken and sold it for $16.89M $USDC and $USDT at a price of $150.8.#PumpFun has sent a total of 118,717 $SOL ($17.86M) to #Kraken. Since the last update, an extra 13,484 $SOL… https://t.co/1CgORNbWD7 pic.twitter.com/n5tp7FtVXJ

PumpFun-Linked Wallets Offload Over $16.8M in $SOL on Kraken

The market data reveals the withdrawal of nearly 111,993 $SOL coins from Kraken by PumpFun-linked newly developed wallets. The sale reportedly accounts for almost $16.89M. The respective wallets carried out this sale at $150.80 as the per-$SOL average price. The transfers took into account key stablecoins including $USDT and $USDC. This highlights a clear endeavor for the conversion of their holdings in $SOL into dollar-pegged stablecoins.

The timing of this sell is crucial as the overall market is bullish. It is not clear et if the entity has turned bearish on Solana or it wants to shift to any other altcoin.

Massive Offloading Underscore Platform’s Ongoing Endeavors for Further Development

As Onchain Lens mentions, PumpFun has sent nearly 118,717 $SOL to Kraken. This figure accounts for $17.86M in terms of value at the present market rates. This signifies an upsurge of 13,484 $SOL in total since the recent update. In this respect, the project is seemingly ramping up the selling activity thereof. Hence, the project is raising its influence in the market. Selling such a notable amount also indicates the increasing efforts of PumpFun to secure funds for its further development.