Pump.Fun Withdraws $436.5M USDC, Token Experiences 24% Decline in a Week

Solana-based meme coin platform Pump.fun has withdrawn a total of $436.5 million USDC since mid-October. This significant cash-out has raised concerns within the community as the native token, PUMP, has witnessed a steep decline in value. Despite the impressive fundraising efforts, the lack of communication from the project team has added to investor unease.

Key Takeaways

Pump.fun withdrew $436.5 million USDC since October 15.
The project has shifted $405 million USDC to Kraken and transferred $466 million USDC from Kraken to Circle.
PUMP token has seen a decline of over 22.77% in the last week, trading at $0.0026.
Community backlash has arisen due to perceived neglect of investor interests and lack of communication.
Recent updates like “Mayhem Mode” have failed to significantly increase token activity.

Pump.fun token

Overview of Recent Withdrawals by Pump.fun

Since October 15, the Solana-based meme coin launchpad Pump.fun has transferred a staggering $436.5 million USDC into Kraken. This transfer was part of a larger trend, with 537.6 million USDC moving from Kraken to Circle, according to data from Arkham.

Additionally, from May 2024 to August 2025, the platform has sold 4.19 million Solana (SOL) tokens, equivalent to nearly $757 million. Out of this, 264,373 SOL were sold on-chain for approximately $41.64 million, while 3.93 million SOL (worth $715.5 million) were deposited into Kraken, as noted by Lookonchain.

Analysts often observe that large cash-outs in memecoin projects typically lead to short-term price declines. The latest actions have sparked significant backlash from the community. One user highlighted that Pump.fun has amassed over a billion dollars in just one year but has not reciprocated to its users in any form. “No airdrop, no marketing, no incentives,” the user expressed on X.

Another comment criticized the project’s founder, Alon, claiming that the upcoming fourth quarter will only benefit the Pump.fun team, not its community.

Decline of the Pump.fun Token

The PUMP token has been struggling, suffering a decrease of over 22.77% in the last week, according to CoinMarketCap's data. Over the past 24 hours alone, the token has experienced a drop of 3.97%, bringing its current value to $0.0026. This price is below the initial sale price of $0.004 during the June private sale for institutions.

Moreover, Pump.fun’s attempt to introduce “Mayhem Mode,” an AI-based token launch feature, has not had the desired effect of enhancing activity. Reports from The Block indicate that daily token launches saw a minor increase from 17,300 to 17,800 following the update, a change that did little to rebuild investor confidence.

As a result of these developments, the community continues to express concerns over the project’s management and future direction.