Pump.Fun (PUMP) Price: Token Drops 24% as Team Withdraws $436M

TLDR

• Pump.fun has withdrawn $436.5 million USDC since October 15, with $405 million moved to Kraken in the past week alone
• The funds appear to be proceeds from Pump.fun’s June private sale where institutions bought PUMP tokens at $0.004 each
• PUMP token has dropped 24% in one week and is now trading at $0.0026, below its private sale price
• The platform has sold 4.19 million Solana tokens worth $757 million from May 2024 to August 2025
• Community members have criticized the project for not providing airdrops, marketing, or incentives despite earning over $1 billion

Solana-based meme coin launchpad Pump.fun has transferred $436.5 million in USDC since mid-October. The large movement of funds has raised questions about the project’s financial operations.

On-chain analyst EmberCN reported that the Pump.fun team moved approximately 405 million USDC into cryptocurrency exchange Kraken over the past week. During the same timeframe, 466 million USDC flowed from Kraken to Circle, the issuer of USDC stablecoin.

The analyst described the transaction pattern as “very likely” representing a withdrawal. According to EmberCN, these funds match the proceeds from Pump.fun’s June private sale of PUMP tokens to institutional investors.

In June, institutions purchased PUMP tokens at a fixed price of $0.004 per token during the private placement round. The private sale allocated 18% of the total 1 trillion token supply to institutions, raising an estimated $720 million.

Pump.fun launched its native PUMP token in July through an initial coin offering. The ICO raised $500 million in less than 12 minutes.

Large Token Sales and Silent Response

Data from Arkham Intelligence shows that since October 15, Pump.fun deposited 436.5 million USDC into Kraken. Following these deposits, 537.6 million USDC moved from Kraken to Circle.

The platform has also sold a total of 4.19 million Solana tokens since May 2024. These sales generated approximately $757 million in proceeds through August 2025.

According to blockchain analytics firm Lookonchain, the team sold 264,373 SOL on-chain for $41.64 million. An additional 3.93 million SOL, valued at $715.5 million, was deposited into Kraken.

The official X account for Pump.fun has not posted any updates for over a week. The project has not provided any explanation for the large USDC transfers.

Community Reaction and Token Performance

The transfers have triggered criticism from community members. Users on social media platform X pointed out that Pump.fun has generated over $1 billion in revenue over the past year.

One user criticized the project for failing to provide airdrops, marketing support, or community incentives. Another user questioned claims made by project founder Alon about Q4 performance expectations.

The PUMP token has experienced sustained price declines. CoinMarketCap data shows the token fell 22.77% over the past week.

In the last 24 hours, PUMP dropped an additional 3.97%. The token is currently trading at $0.0026, which is below the $0.004 price paid by institutional investors during the June private sale.

Analysts have noted that insiders and early investors controlled approximately 55% of the token supply when trading began. This allocation structure has faced criticism from retail investors who argue it created unfavorable market conditions.

Pump.fun has earned more than $908 million in revenue from its token factory platform since launch, according to Dune Analytics. However, platform activity has declined in recent weeks.

Daily active wallets have fallen to just under 100,000. Out of more than 10,000 tokens created in the last 24 hours, only 86 successfully “graduated” to higher-tier status.

The platform recently introduced “Mayhem Mode,” an AI-driven token launch feature designed to increase activity. Daily token launches rose only slightly from 17,300 to 17,800 following the update.

Pump.fun faces several class-action lawsuits filed in New York. The lawsuits allege the project sold unregistered tokens and misled users about potential returns.

Analysts at Coincodex project PUMP could decline to $0.001929 by December 23. The forecast cites bearish sentiment, high volatility, and an Extreme Fear reading of 13 on the Fear & Greed Index.

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