Pump.fun Token Falls Below ICO Price Amid Market Concerns

The Pump.fun token has fallen below its ICO price. Currently, its value is around $0.0037, which is 45% lower than the $0.004 at which the token sale took place. The maximum value reached approximately $0.0068. Its total market capitalization stands at $1.31 billion, with a full market cap of $3.72 billion. After the pre-sale, which ended on July 12 in just 12 minutes with $500 million raised, nearly 60% of participants sold their assets on centralized exchanges. Despite this, retail investor purchase volumes and the number of holders are increasing. Meanwhile, the token's price dropped below the ICO level, raising concerns. Investors have sent large sums to exchanges, and the token's price is outside the trending meme tokens in the crypto market segment. Conversely, the meme segment grew by 24% overall, with major cryptocurrencies like Dogecoin, Floki, PENGU, and BONK leading the weekly gains. Experts note the end of mass altcoin seasons and point to declining interest in new projects. This, combined with Pump.fun's decline, raises additional questions about the meme market and the prospects of such assets.