Pump.fun Token Dips below the price of ICO like selling special whales more than 160 million dollars

POMP.fun (POMP) Memecoin has started to empty billions of pathways from symbols to exchanges, raising fears of sale with the distinctive code drop to less than the initial sale value.

Blockchain Lookonchain Analysis Company A mark has been placed Two of the first supporters of the Memecoin symbol, called Solutions as “Pump Top Fund 1” and “Pump Top Fund 2”, were sent combined to more than $ 160 million in the distinctive symbols of pumps to central stock exchanges.

During private sale, Top Fund 1 wallet acquired 25 billion symbols for $ 100 million in Usdc (USDC). Last week, the portfolio deposited 17 billion icons of about $ 90 million for exchanges. While the whale began to empty it, it still maintains code of $ 29.5 million.

A second portfolio bought 12.5 billion symbols for $ 50 million during the private sale. Unlike the first wallet, this investor has completely emptied his hideout with a value of more than $ 71 million for exchanges.

Pump.fun Token Drops where participants at some time before the symbols separate the symbols

While the pump symbol showed bullish signs immediately after its launch, it began to see the effect of obtaining a high opening rate at the launch.

Coingecko data shows that in the past seven days, the value of the distinctive symbol Decline To the lowest level ever at $ 0.003642 on July 22. This represents 46.5 % of its highest level ever at 0.006812 and a 32 % decrease since its launch on July 15.

The current price point also shows a 7 % decrease compared to the initial currency rate (ICO) of $ 0.004. This means that pre -investors who did not sell their symbols face unrealistic losses.

On July 13, Pump.fun raised approximately $ 500 million from the preliminary currency of the pump code, Selling 12 minutes. However, the participants seemed keen to empty their symbols after ICO.

On July 17, Bitmex Share Onchain data that shows that approximately 60 % of the Pressale pump Selling or transferring their symbols to exchanges Or another governor. At that time, 37.4 % of the participants were held at some time pre -symbols, while 3 % continued to increase their holdings.

Bitmex analysts said that after its launch PEMP challenges expectations due to its high opening rate during the launch. Pimix said that big buoys often lead to strong declining pressure in the derivative markets.

Related to: Pump.fun buys Kolscan

The Memecoin sector rises to $ 87 billion on July 21

Meanwhile, the broader MIME sector began to show signs of slowdown. CoinmarketCap data shows that the total market value of Memecoins has peaked at 87 billion dollars on July 21, an increase of 58 % of its value of $ 55 billion on June 30.

This was followed by a rapid decrease to $ 81 billion on July 22. At the time of writing this report, the market value of the Mimikoin sector is $ 82 billion, according to Coinmarketca.

Anthony Anzelon, founder and director of the Layer-1 Blockchain Network Xion, I told CointeleGraph previously that the increase in the maximum memecoin market shows that the capital He has no better place to flow.

magazine: Mechanin is deviated from a pioneering anti -aging research