Pump.fun’s $436 million cash-out raises concerns as memecoin trading declines

Since October’s crypto crash, Pump.fun has cashed out 436 million USD in USDC, highlighting concerns over declining revenues and increased selling pressure. November’s revenue dropped 53%, marking a worrying trend for the memecoin market.

Critics point out that the large withdrawals from Pump.fun might exacerbate selling pressure. With its holdings of approximately 855 million USD in stablecoins and 211 million USD in Solana, the current market activity raises investor concerns.