PUMP, the new Token from Pump.fun, began trading with high volatility, with prices nearly returning to the ICO level of 0.005 USD, while whales were both selling and opening Short positions.
After launch, PUMP was quickly sold off by a group of large investors. Despite a wide distribution to nearly 37,200 wallets, most of the modern Tokens remain in the hands of whales and market makers, raising concerns about risks and market manipulation.
MAIN CONTENT
PUMP started trading with high volume and the price dropped quickly after the ICO.
Whales and market makers hold large amounts of Tokens, actively trading in both selling and buying leverage positions.
Many small wallets received Tokens, but are still waiting for retail distribution, creating psychological pressure in the community.
How did PUMP trade immediately after being launched into the market?
According to data from Kraken, after being sold in ICO at a price of 0.005 USD/Token, PUMP dropped to this level only after a strong red candle with trading volume reaching 47 million USD. The next day, the price stabilized around 0.005 to 0.006 USD but with significantly lower volume, only about 12 million USD.
This phenomenon indicates that PUMP has faced significant selling pressure from the beginning, a warning sign of risk. An expert on Kraken noted, "The initial price and liquidity clearly reflect a lack of stability and high volatility in new Tokens." (Source: Kraken, 2025)
Who are the PUMP Holders and what have they done with these Tokens?
Market maker Wintermute received up to 97 million USD in PUMP Tokens, while DWF Labs holds 17.4 million USD in Tokens. This distribution was quick, just 12 hours after the sale ended. This shows that large institutions are controlling a significant portion of the Tokens to regulate the market.
"The involvement of large market makers such as Wintermute and DWF Labs will create liquidity but also poses risks of price manipulation, causing the market to fluctuate abnormally."
Andy Li, CEO of Kraken, July 2025
The PUMP Token has been transferred to nearly 37,200 wallets, many of which belong to large whales linked with smaller networks. Thanks to data from Bubblemaps, these wallet groups show high concentration, limiting the spread to the broader community.
How have whales acted after receiving PUMP?
Data on Hyperliquid shows that most whales are trading with large positions, many choosing to buy long-term with price recovery expectations. However, at least one whale has invested 5 million USDC to buy over 423 million PUMP, while also opening a Short position with 5x leverage, reflecting a risk hedging strategy.
"A whale placed a leveraged short bet to profit from falling prices, indicating a cautious sentiment and expectations of significant price volatility for PUMP."
Onchain Lens, report dated 15/7/2025
On-chain reports also demonstrate that large sell-off transactions originated from whale wallets, with some holding positions over 500,000 USD immediately taking profits after receiving Tokens.
Does PUMP have plans to list on major exchanges and what will the future hold?
On-chain data shows transactions transferring PUMP Tokens to the hot wallets of Coinbase and Binance, opening up opportunities for upcoming listings on major centralized exchanges. This is an important step to enhance liquidity and increase market participants, giving PUMP a chance for recovery and long-term growth.
Although Pump.fun's activity is declining and losing market share to LetsBonk, the launch of PUMP is expected to create a new turning point in the price discovery process of this Token.
What measures should small investors consider when interested in PUMP?
Individual investors need to be fully aware of the risks when the Tokens are largely in the hands of whales and organizations that can manipulate the market. Monitoring whale actions on-chain, combined with technical analysis and market news, will help mitigate unwanted risks.
Summary of PUMP Token distribution data
Group Token Amount (USD) Role Wintermute 97 million Major market maker DWF Labs 17.4 million Market maker/meme Token Large whales and small wallets Distributed to 37,192 wallets Retail, individual investors
Frequently Asked Questions
What is the PUMP Token? PUMP is the native Token of Pump.fun, used for trading and participating in this ecosystem, having gone through an ICO at a price of 0.005 USD/Token. What are whales doing with PUMP? Whales are exploiting the market by both selling large amounts and opening short positions to profit from price fluctuations. How do market makers affect PUMP? Market makers like Wintermute contribute to providing liquidity but may also cause price volatility due to holding large amounts of Tokens. Will PUMP be listed on major exchanges? On-chain data suggests that the Token is likely to be listed on major exchanges like Coinbase and Binance in the near future. What should small investors be aware of when buying PUMP? Investors need to be cautious of manipulation risks from whales and market makers, while closely monitoring information and price fluctuations.
Source: https://tintucbitcoin.com/pump-token-gan-gia-ico-ca-voi-ban-2/
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