Pump.fun’s PUMP Token Debuts With 7.3% Decline

Pump.fun’s PUMP token made its debut on July 14 with a fully diluted valuation (FDV) of approximately $5.6 billion. Within the first three hours of trading, the token experienced a 7.3% decline, according to data from DEX Screener. At 20:30 UTC, the token was trading at around $0.005128, which implied a current FDV of nearly $5.12 billion. The liquidity during this period was $19.3 million, with 11,160 on-chain transactions totaling $34.1 million.

Buy activity slightly outpaced sales, with 6,210 purchases compared to 4,950 sales. In dollar terms, the split was almost even, with $18.7 million in purchases and $19.1 million in sales. This debut followed a 12-minute public sale on July 12, which raised $500 million and distributed 125 billion PUMP tokens. The sale-priced tokens at $0.004 were quickly exhausted on Pump.fun’s website and four centralized exchanges, marking one of the fastest capital raises in ICO history.

On-chain dashboards compiled by Dune show that 23,959 wallets have completed the mandatory Know Your Customer procedures, but only 42.3% have secured tokens. The average spend reached $44,209, while the median landed near $550, illustrating a skew toward whale participation, even as small holders dominated numerically. Exactly 202 wallets hit the $1 million hard cap, while 5,758 spent less than $1,000.

Pump.fun’s own breakdown assigns 33% of the supply to the ICO, 24% to community and ecosystem initiatives, 20% to the founding team, 13% to existing investors, 3% to a livestreaming budget, 2.6% to liquidity and exchange incentives, 2.4% to an ecosystem fund, and 2% to a nonprofit foundation. Furthermore, website analytics indicate that 76% of the tokens were sold through Pump.fun’s portal, with the balance handled by partner exchanges. The team said this approach strengthens direct ties to users and limits middleman influence.

Developers required identity checks for all participants and excluded residents from the US and UK, positioning the raise as a “compliant” alternative to earlier memecoin launches. This approach aimed to ensure that the token sale was conducted in a manner that adhered to regulatory standards, thereby reducing the risk of legal complications and enhancing the credibility of the project.