Pump.fun Gears Up to Dump 156K SOL—Just Another Day in DeFi Casino Land
Solana’s meme coin playground Pump.fun is making moves—and not the subtle kind. The platform’s preparing to offload a staggering 156,000 SOL, worth roughly $22 million at current prices. That’s enough to make even a degens’ hands shake.
Timing is everything: The cash-out comes as Solana struggles to reclaim its former glory after last year’s brutal bear market. Will this trigger a sell-off panic or just blend into the usual DeFi chaos? Place your bets.
Bonus jab: Nothing says ’healthy ecosystem’ like founders cashing out while retail investors HODL the bag. Crypto never changes.
Pump.fun is a regular customer
To date, Pump.fun has already deposited and presumably cashed out 3.49M SOL, with selling prices ranging from $183 to $158. Since the April recovery, the platform has cashed out over $640M.
Pumpfun(@pumpdotfun) deposited 156,425 $SOL($25.74M) to #Kraken again.
So far, #Pumpfun has deposited 3.49M $SOL($640M) to #Kraken at $183 and sold 264,373 $SOL for 41.64M $USDC at $158.https://t.co/HFijOAqvdm pic.twitter.com/6cIeYPMIaI
— Lookonchain (@lookonchain) May 30, 2025
The sales are seen as one of the major price pressures on Solana. The asset has been slow to recover in the past weeks, following previous transfers of SOL from Pump.fun.
Following the latest tranche, SOL once again fell behind BNB, trading at $163.80. Most apps on solana are highly active fee producers, though some have revenue-sharing programs.
Pump.fun retains baseline activity levels
Pump.fun is losing its position as the only platform for meme launches. In the past month, competition has somewhat diminished the platform’s bottom line. The main competition comes from a new group of launchpads, including LetsBonk, Believe, Launchlab and Boopdotfun.
Overall, Solana meme activity is past peak enthusiasm, and token graduations are back under 1%. Token graduations sank to 0.75% at one point, despite the launch of over 25K tokens in a single day.
Pump.fun tokens make up 51% of new Solana launches, down from a peak close to 80%. The platform also faces competition from external ecosystems, especially the alpha point farming on BNB Smart Chain.
The large number of daily token launches has also brought back casual rug pulls. While not as high-profile as celebrity rug pulls, they are still destroying value. A small handful of wallets aggressively launch tokens, hoping they will be sniped by bots for a quick rug pull.
Pump.fun is already distributing creator rewards, which unfortunately led to even more meaningless token launches. One of the top token creators unleashed 500 high-risk, early-stage tokens.
The MNhbr account has received over $11K in SOL compensation from the recently introduced creator reward pool. The wallet has also achieved $1.4M in profit by immediately sniping 15% to 30% of the token’s supply, then immediately selling.
Recent data show that a handful of top wallets are once again making all the gains and extracting value. Creator rewards do not favor quality tokens but reward quantity, reviving the “trenches” with even more meme token bets.
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