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FalconX Exchange Sees Massive $PUMP Token Dump as Early Investors Bail
FalconX Exchange Sees Massive $PUMP Token Dump as Early Investors Bail
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FalconX exchange News -
Pump.Fun's $PUMP token, which raised over $600 million in a 12-minute ICO, has crashed below its private sale price of $0.004. Early backers are rapidly offloading holdings, with only 12.7% of presale buyers still holding the token. Two major wallets tagged as "PUMP Top Fund 1" and "PUMP Top Fund 2" have moved $160 million worth of tokens to centralized exchanges including FalconX, signaling eroding confidence.
The memecoin ecosystem faces turbulence as FalconX and other trading desks process massive sell orders. Despite the $PUMP downturn, the broader meme coin market cap remains resilient at $83.3 billion. Market participants now question whether this represents a localized correction or the beginning of a broader memecoin retreat.
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