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Solana Traders In Jitters as Pumpfun Dumps Massive SOL Tokens

  • Popular meme coin launchpad Pumpfun has sold $8.85 million worth of Solana (SOL) tokens, causing panic among traders.
  • Solana (SOL) price dipped 4% to $103.5 after the sale, with a 17% weekly decline.
  • Solana whales are moving large amounts of assets to centralized exchanges, indicating potential sales and leading to major exits from institutional and retail traders.
  • The wider market also witnessed a decline, with Bitcoin falling 4% and altcoins such as Ethereum, XRP, and ADA experiencing significant drops in price.

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