Solana-Based Pump.fun ICO Sells Out in Minutes, Reaches $4B Valuation

The Solana-based memecoin launchpad Pump.fun has made headlines with its public token sale concluding in just 12 minutes. Investors quickly snapped up all 125 billion PUMP tokens offered, raising $500 million at $0.004 per token. This rapid sell-out has propelled Pump.fun to a fully diluted valuation of $4 billion, showcasing strong market demand. The tokens were available for purchase directly on Pump.fun's website and through major exchanges like Bybit, KuCoin, Bitget, Kraken, Gate.io, and MEXC. This event underscores the growing interest in Solana-based projects and the potential for high-velocity fundraising in the crypto space.

Pump.fun ICO Sells Out in Minutes, Hits $4B Fully Diluted Valuation

Pump.fun's public token sale concluded in just 12 minutes, with investors snapping up the full 125 billion PUMP tokens offered. The Solana-based memecoin launchpad raised $500 million at $0.004 per token, achieving a fully diluted valuation of $4 billion.

The tokens were available for purchase directly on Pump.fun's website or through major exchanges including Bybit, KuCoin, Bitget, Kraken, Gate.io, and MEXC. Website purchases accounted for $448.5 million of the total, with Kraken and KuCoin handling $30 million and $16.5 million respectively.

This explosive launch solidifies Pump.fun's position as one of the most anticipated token offerings of the year, demonstrating robust investor appetite for innovative crypto projects on the solana blockchain.

Solana (SOL) Tests Key Support Level Amid Market Correction

Solana's native token SOL faces a critical test at the $155 support level after retreating from its recent peak near $168. The asset initially rallied past $160, mirroring broader momentum in Bitcoin and Ethereum, but encountered stiff resistance at higher levels.

Technical indicators show weakening bullish momentum, with SOL breaking below both a key trendline and its 100-hour moving average. The current pullback has erased over 76% of the gains from the recent $158-$168 upswing, signaling potential exhaustion among buyers.

Market participants now watch whether the $158-$155 zone can hold. A successful defense could set the stage for another attempt at conquering the $162 resistance level, while failure may trigger deeper corrections.

Solana Institutional Inflows Signal $2,000 Price Target

Solana's $78 million ETP inflow on July 9 coincides with a surge in active addresses to yearly highs. Net flows indicate accumulation, with holders resisting sell pressure. Analysts project a $2,000 price target as institutional participation grows—presale projects on SOL may outperform during this phase.

The network's dual identity as a meme coin hub and institutional darling creates unique volatility opportunities. Recent developments mirror patterns seen before SOL's 2024 parabolic rally, suggesting presale windows could narrow rapidly.

Solana’s Price Pullback Seen as Temporary Amid Bullish Indicators

Solana’s recent retreat to $160 appears more a consolidation than a trend reversal, with three critical metrics signaling sustained bullish momentum. Funding rates remain firmly positive—long positions continue to dominate, reflecting trader confidence in SOL’s rebound despite short-term volatility.

The 20/50 EMA golden crossover on daily charts reinforces the uptrend narrative, though the pattern emerged on a red candle with long wicks, hinting at lingering market hesitation. Technical structure holds: SOL maintains support above key levels, avoiding breakdown territory.