Hey, my people, how are we doing today? I hope you are ready to understand this thing that is blowing up on social media. Look, the PUMP token from Pump.fun, which crushed it in its presale, is generating buzz! 🎢 It turns out that almost 60% of the people who got involved in that move have already sold or sent their tokens elsewhere. Yes, you read that right, almost the majority! 📉
According to some data released by BitMEX, out of more than 10,000 participants in the presale, over 6,000 have already disposed of their PUMP! Only 37.4% are still holding their breath, and a tiny 3% even bought more! 🤯 Are these last ones brave or visionary?
The token skyrocketed, reaching almost $0.0068, but then boom!, it fell nearly 20%. 📉 Despite that, BitMEX experts say that PUMP has already exceeded expectations. Can you imagine? Even though a bunch of tokens were "unlocked" from the start (meaning, ready to be sold), the price went up 40% since the presale. You don't see that every day! 🤑
The most curious thing is that, normally, with so many tokens floating around and such quick gains, people go crazy selling, which makes the "funding rates" go negative. But with PUMP, they are positive! That, in simple terms, means that people still believe that the value of PUMP could continue to rise. Crazy, right?! ✨
But, not everything is rosy. 🚨 Although PUMP is crushing it right now, BitMEX issues a warning: if the volume of Pump.fun continues to decrease (it went from $11.6 billion in January to $3.65 billion in June 😬), maintaining that valuation will be a real challenge. And to spice things up, there’s already a new competitor, LetsBonk, that is taking the lead from Pump.fun in the Solana memecoin space! 😈
Do you remember the PUMP presale? It sold out in 12 minutes and raised $500 million! Just insane. But the community is still divided: are these memecoins a blessing or a curse for the crypto world? 🤔 I'll leave that for you to ponder!$PUMP
