Pump.fun selling comes as meme-coin sector weakens and capital rotates to Bitcoin
first published 2026-11-14T12:16:20Z
Onchain trackers say Pump.fun sent 64,666 SOL, worth about $5.19 million, to Kraken, extending its practice of converting platform fee revenue into cash. The memecoin launchpad has reportedly sold about 5.62 million SOL for roughly $887.6 million at an average price of $158, while three wallets tied to the team or early investors moved 1.458 billion unlocked PUMP, worth about $5.01 million, to Coinbase Prime.
AI Analysis
The article reports continued large-scale selling of SOL into exchanges and additional movement of unlocked PUMP to Coinbase Prime, both of which can add near-term selling pressure. The size and persistence of the transfers make it potentially market-moving for SOL and PUMP in the short term.
Expected Investor Sentiment: Bearish
Potential Market Impact: Significant
