Pump.fun’s coin blasted off with a quick jolt, leaping close to 90% higher within hours of its ICO wrap. Though it launched at $0.004 per unit, by July 19 it was barely clinging to $0.004246. It briefly touched its peak at $0.006812 on July 16—but now sits more than 37% below that high-water mark.

PUMP/USD via Coinbase on July 19.

It scraped a record low yesterday at $0.003908, and as of press time, it’s only about 8.5% above that valley. With 354 billion PUMP in circulation, its market capitalization currently hovers around $1.5 billion. Trading action has been tepid—daily volume is under $1 billion, with $761 million exchanged in the last 24 hours.

Back on July 13, just 10,145 wallets held PUMP; today, that figure has exploded to 52,901. Transfer activity has skyrocketed too—from over 10,000 moves six days ago to more than 1 million now. The biggest holders include the token contract wallet (45.09%), Squads Vault (8%), Hyperunit (4.01%), Squads Vault again (3.5%), and Bybit’s stash (2.987%).

Bybit ranks as PUMP’s busiest trading venue, trailed by Gate.io, Hyperliquid, MEXC, Bitget, Coinbase, and Kucoin. But despite early fireworks, PUMP’s energy fizzled fast. The initial blast faded quickly, with prices now circling the launch range—down 37% from its high and weighed down by low volume and concentrated holdings.

The real question: is this just a slow start—or the sign of deeper trouble? For now, the market waits to see whether PUMP can find its spark again.

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