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Pump.Fun Cashes Out $436.5M USDC, Token Slumps 24% in 1 Week

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Solana-based meme coin launchpad Pump.enjoyable has withdrawn $ 436.5 million USDC since October 15, based on on-chain evaluation.

Data collected by crypto analyst EmberCN revealed that Pump.enjoyable group has moved 405 million USDC into Kraken in the previous week alone. During the identical interval, the undertaking transferred 466 million USDC from Kraken to Circle.

The transfer is “very probably” to be a “withdrawal,” the analyst famous.

Per EmberCN, the funds are proceeds from Pump.enjoyable’s June non-public sale of PUMP tokens to establishments. Pump.enjoyable launched its personal token, PUMP,(*1*) that raised $500 million in beneath 12 minutes.

Despite the current huge USDC transfers, the official X account of Pump.enjoyable has remained silent for over every week, failing to offer any updates.

“Cash Out” Operation Triggers Community Backlash

Since October 15, Pump.enjoyable has deposited 436.5 million USDC into Kraken, adopted by 537.6 million USDC flowing from Kraken to Circle, Arkham data notes.

Further, the platform has bought a complete of 4.19 million Solana (SOL), price almost $757 million, from May 2024 to August 2025.

“Of that quantity, 264,373 SOL was dumped on-chain for $41.64 million, whereas 3.93M SOL($715.5 million) was deposited into Kraken,” Lookonchain famous.

Analysts notice that comparable cash-outs in memecoin initiatives have traditionally led to short-term value dips. However, the newest transfer has triggered neighborhood backlash.

One consumer famous that Pump.enjoyable has pocketed over a billion in the previous yr, whereas the undertaking hasn’t given again to its neighborhood.

“No airdrop, no advertising and marketing, no incentives,” the user wrote on X.

Another consumer remarked that This fall would be the greatest quarter for Pump.enjoyable group “and no person else,” slamming its founder Alon’s claims on the undertaking’s This fall efficiency.

Pump.enjoyable Token Plunges Nearly 4% in 24 Hours

The native token of the memecoin launchpad PUMP has been bearish for over every week, plunging over 22.77%, per CoinMarketCap knowledge.

The token has fallen 3.97% in the previous 24h, extending a 24% weekly decline. It is currently trading at $0.0026 at press time, which is decrease than the June non-public sale of the token, which was priced at $0.004 for establishments.

Besides, Pump.enjoyable not too long ago launched “Mayhem Mode” – an AI-driven token launch function, which did not meaningfully increase exercise. According to The Block, the day by day token launches rose solely barely from 17,300 to 17,800 post-update. This stagnation has additional undermined buyers’ confidence.

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