Almost 60% of participants in Pump.fun’s initial coin offering have sold or transferred their tokens to centralized exchanges, according to BitMEX data. Of the 10,145 ICO participants, 6,042 wallets (59.6%) had sold or moved their tokens, while 3,791 wallets (37.4%) continued to hold. The PUMP token, which initially surged to $0.006812, dropped nearly 20% to $0.005468 shortly after its launch. Despite the decline, BitMEX analysts noted that the token had exceeded initial expectations by debuting at a price 40% higher than its presale price. However, the PUMP token's funding rates have been trending positively, indicating some market confidence. Nonetheless, concerns arise from a significant decline in transaction volumes since January, which may challenge the token's current valuation. The PUMP presale successfully raised $500 million, yet opinions within the community about the impact of Pump.fun and similar memecoins are mixed, with some viewing it favorably while others argue against it.

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