Pump.fun Tokens Sustain Supply Floor Amid Insider Sales

The token market has witnessed significant activity in recent times, with various cryptocurrencies experiencing substantial price fluctuations. The Pump.fun (PUMP) token is one such example, which has been affected by insider sales and token unlocks.

A wallet linked to '77DsB...' has been selling large batches of PUMP tokens into USDC, valued at $25.39 million. The distribution unfolded gradually rather than through a single liquidity shock, with the first batch consisting of 543 million tokens generating approximately $1.2 million in USDC on February 17th.

The sell pressure deepened as the address continued to offload PUMP tokens, reaching 3.376 billion by February 21st and converting into roughly $7.23 million. However, this supply entered circulation amidst declining platform revenue and memecoin fatigue, which reinforced liquidation motives.

Uniswap leads with $1.84 billion in 24-hour volume and $12.12 billion in weekly turnover, indicating a consolidation of liquidity toward Ethereum-aligned execution venues. In contrast, PancakeSwap follows with $710.6 million in daily volume but recorded a significant decline in weekly flows.

The PUMP token has also faced challenges due to its native Solana ecosystem, which is experiencing structural supply compression. The circulating supply stood at 568 million SOL out of roughly 620 million total, while the top 10 holders controlled 6.58% and the top 100 held 22.76%. Despite these challenges, consistent buybacks have offset 25% of the circulating supply, establishing a firmer supply floor for PUMP.