Thomas Daniels
Pump.fun, a leading meme coin launch platform, has made headlines again with another substantial sale of Solana (SOL) tokens from its fee account. On November 18, Lookonchain, a blockchain analytics platform, reported that Pump.fun offloaded 105,000 SOL tokens valued at over $25 million at the time. This follows a consistent pattern of large-scale sales by the platform, which enables users to create their own meme coins.
Recent Sales and Platform Revenue
The recent sale aligns with a significant price movement in Solana’s market, where the altcoin surged from $135 to nearly $180. Pump.fun, known as Solana’s premier meme coin generator, has amassed total revenue of 1,307,966 SOL—equivalent to over $315 million. The platform has been actively liquidating its holdings, selling 43,000 SOL worth approximately $9.38 million just a week earlier.
Over the last several weeks, Pump.fun has offloaded a cumulative 352,400 SOL, valued at over $71 million, including 10,300 SOL sold back in September. Since its inception, Pump.fun has liquidated 898,243 SOL, generating roughly $157 million.
Operational Implications
On-chain data suggests these frequent sales stem from the team’s need to manage operational expenses, with the fee account doubling as a source for transaction fees and platform funding.
SOL Price Performance
Pump.fun’s latest sale occurred amid a bullish rally for SOL, which recently climbed to new year-to-date highs of $247.84, marking a more than 50% monthly gain. This momentum brought Solana within 8% of its all-time high of $259. However, the token has since retraced to $237.41, trimming its daily gains to around 2% and seven-day gains to 8.6%.
As Solana remains a focal point in the crypto market, Pump.fun’s substantial sales raise questions about its potential impact on SOL’s price trajectory and the broader implications for meme coin platforms operating on the blockchain.
