Pump.fun, the meme coin launch platform that allows users to easily create their own meme coins, has sold another chunk of Solana tokens earned in fees.
On Nov. 18, blockchain data tracking platform Lookonchain reported that Pump.fun sold 105,000 Solana (SOL). tokens. The offloaded tokens came from the meme factory’s fee account and totaled more than $25 million at the time, Lookonchain shared on X.
This sale coincided with the altcoin’s price rising from $135 to nearly $180. Solana’s top meme coin generator, which has accumulated total revenue of 1,307,966 SOL worth over $315 million, has been consistently selling coins in recent months and weeks.
Pump.fun sold 43,000 SOL worth over $9.38 million seven days ago. Over the past few weeks, the platform has offloaded 352,400 SOL worth over $71 million. This includes the sale of 10,300 SOL that in September.
Overall, according to on-chain data, the SunPump rival has cashed out a total of 898,243 SOL worth of $157 million.
These sales from the fee account suggest a need for cash by the team, with this wallet being used not just for collecting transaction fees but also for covering operational costs for the platform.
SOL price
Pump.fun’s latest SOL sale comes amid the token’s price jump above $200. Over the past month, Solana’s price has increased by more than 50%, reaching new year-to-date highs above $247. According to market data from crypto.news, this bullish surge brought SOL to within 8% of its all-time high of $259.
SOL has since decreased from $247.84 to $237.41, cutting 24-hour gains to roughly 2% and seven-day gains to about 8.6%.
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