Pump.fun’s $PUMP Token Sells Out in 12 Minutes Raising $500 Million

Pump.fun’s public token sale concluded with remarkable success, selling out in just 12 minutes, far ahead of the anticipated 72-hour duration. This rapid sellout underscores the substantial hype and interest surrounding the memecoin launchpad.

The $PUMP token, native to the Solana-based platform Pump.fun, was made available to the public with 150 billion tokens, constituting about 15% of the total 1 trillion token supply. Each token was sold at a fixed price of $0.004, raising between $500 to $600 million and giving the project a fully diluted valuation close to $4 billion. The ICO was hosted on Pump.fun’s website and several major exchanges, providing multiple opportunities for participation.

Following the launch, the PUMP/USDT price settled just below $0.0066, experiencing strong upward movement initially before stabilizing. The Relative Strength Index (RSI) on the 1-minute chart is around 66, indicating a slight cooling down after being overbought. This is typical for a hot launch, as early buyers take profits while others await further gains.

Price action has remained above recent support zones, which is a positive sign. As long as PUMP holds above the $0.0063–$0.0064 range, bulls may aim for another run at the $0.0070 level. Short-term, the market may experience some volatility as it determines a fair price. If momentum resumes, a rally toward $0.0072 or higher is possible. Conversely, if support breaks, a dip toward $0.0060 or even the $0.0055 zone could occur.

Currently, PUMP is holding steady after its strong debut. Maintaining support and healthy volume will be crucial for bulls to remain in control. The token's performance has been closely watched, with analysts and investors trying to gauge its future trajectory. The initial coin offering (ICO) raised $500 million in just 12 minutes, with tokens sold at $0.004 each and a total of 125 billion tokens distributed. This impressive fundraising effort highlighted the high demand for the PUMP token, which is now listed on major exchanges.

The token's price has seen notable movements, reaching a high of $0.00681 before settling around $0.0063, reflecting a 14% increase over a 24-hour period. Pre-market prices surged from $0.0052 to $0.0072, indicating a significant premium over the public sale price. Currently, the token is trading around $0.0059, approximately 47% higher than its initial offering price. This price surge reflects the market's enthusiasm for the PUMP token, despite concerns about its long-term sustainability.

The launch of the PUMP token was marked by a 53% increase from its presale price, giving Pump.fun a fully diluted valuation (FDV) of $6.13 billion. A significant portion of the trading volume, around 55%, is occurring on decentralized exchanges (DEXs) like Pumpswap and Raydium. This decentralized trading activity suggests strong interest from the crypto community, although it also raises questions about the token's stability and support.

Analysts have noted that without strong support, the PUMP token risks price drops after its launch. The public sale, valued at $600 million, is considerably larger than typical ICOs, which could lead to increased selling pressure from early investors. This dynamic highlights the importance of sustained market interest and utility for the token to maintain its value. Some analysts predict that the price of PUMP could rise to $0.01, reaching a fully diluted valuation of $10 billion. This optimistic outlook is based on the token's total supply of 1 trillion tokens and the potential for increased adoption and utility. However, it remains to be seen whether the PUMP token can live up to these expectations and achieve long-term sustainability.