Pump.fun (PUMP) Price: Another $75M Hits Kraken as Dumping Claims Return

TLDR

• Pump.fun transferred another $75 million USDC to Kraken on November 27, bringing total transfers to $480 million since November 15
• The team denies selling off funds, claiming the movements are standard treasury management using ICO proceeds
• PUMP token trades at $0.00294, down 38% over the past month
• The project faces class-action lawsuits in New York for alleged unregistered token sales and misleading statements
• Analysts predict further price weakness through December due to high volatility and extremely low sentiment scores

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Pump.fun moved $75 million in USDC to Kraken on November 27. This marks the latest in a series of large transfers that have raised questions about the platform’s treasury activity.

According to blockchain analyst EmberCN, the team has deposited roughly $480 million to the exchange since November 15. All funds came from the project’s initial coin offering proceeds.

The latest transaction followed a pattern seen earlier in the week. After the $75 million reached Kraken, about $69.26 million USDC moved from the exchange to Circle, the company that issues USDC.

A similar sequence occurred on November 24. That day, $405 million arrived at Kraken and roughly $466 million left for Circle shortly after. Market observers flagged these movements as potential USDC redemptions.

Co-founder Sapijiju denied the allegations. He said the transfers were part of routine treasury management. He stated the company has never worked directly with Circle.

He explained that the USDC raised from the ICO was being spread across different wallets. The funds support operations and future development work.

Token Structure Draws Criticism

The project has faced backlash over its token distribution. The private round allocated 18% of PUMP’s one trillion supply to investors at $0.004. This raised an estimated $720 million.

Analysts noted that insiders and early buyers held more than half of the supply when trading started. Community members said this created unfair market conditions at launch.

Pump.fun has generated over $910 million in revenue since launch, according to Dune Analytics data. However, revenue has declined from $136 million in January to $38 million recently.

Between May 2024 and August 2025, the platform sold $757 million worth of SOL tokens. This data comes from blockchain tracker Lookonchain.

The concerns about insider holdings and treasury movements have affected market confidence. Some users worry that these flows undermine the buyback program launched in September to stabilize PUMP’s price.

Legal Issues and Market Performance

Pump.fun faces class-action lawsuits in New York. The cases allege unregistered token sales and misleading statements about potential profits.

Pump.Fun (PUMP) Price

PUMP trades at $0.00294 at press time. The token reached a high of $0.00898 in August following the ICO. It has dropped more than 40% in the last month alone.

Coincodex analysts expect further price weakness through December. The platform shows high volatility and an Extreme Fear score of 15 on the Fear & Greed Index.

The project introduced Project Ascend in September to improve services. The program changed fee structures to encourage creators. Fitell Corporation added PUMP tokens to its treasury holdings.

Kraken received the most recent $75 million transfer on November 27. The funds originated from wallets tied to the ICO treasury.

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