According to onchain data, cryptocurrency developers have started selling off a large amount of an altcoin. According to Onchain data, a wallet linked to the memecoin launch platform PumpFun sold all of its PUMP token holdings for $8.02 million. The average selling price of the PUMP funds, which were converted to USDC, was $0.0021.
However, another PumpFun wallet linked to the developers conducted a sale of approximately $2.57 million worth of PUMP tokens. This wallet currently holds 3.54 billion PUMP tokens, worth $7.4 million. According to the latest market data, the price of PUMP has fallen by approximately 2% in the last 24 hours.
However, the token is currently trading 82% lower than its all-time high price level reached about 7 months ago. At that time, PumpFun gained incredible popularity, particularly with the rise in popularity of memecoin launches on the Solana network.
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