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Pump.enjoyable is extending its huge Solana dump with one other switch to cryptocurrency alternate Kraken. Based on on-chain analytics agency Lookonchain, the memecoin platform transferred 100,628 SOL ($8.2 million) to the cryptocurrency alternate, and the funds are seemingly already offered.
Lookonchain tweeted:
The once-booming meme coin alternate has been aggressively promoting SOL, the bottom cryptocurrency of selection for memecoin builders, for the higher a part of the final 2 years. The memecoin financial system virtually propped up the Solana ecosystem throughout this time, earlier than builders have been in a position to advance long-term use circumstances for Actual World Asset (RWA) tokenization and DeFi.
All in all, Pump.enjoyable has offered roughly 4.47 million SOL since early 2024, value round $780 million at press time. Kraken alone has dealt with 4.2 million SOL ($738.6 million) of this stash, exhibiting it’s the alternate of selection for the memecoin platform.
The Rise and Fall of Pump.enjoyable
The way forward for Pump.enjoyable is unsure after the collapse of the memecoin financial system. The platform could have helped Solana enhance its community exercise, but it surely was additionally labeled as “worth extractor” or “parasite” by critics. It commonly used FOMO to promote its memecoin stock, transformed it into SOL, after which dumped large parts of it on-line.
 
The memecoin business could have contributed to the cryptocurrency’s poor efficiency in the course of the 2024-2025 bull market. Some group members have claimed that SOL would have hit new all-time highs with out this overhead and dominated the coin market cap charts.
The memecoin financial system has suffered a catastrophic fall during the last 8 months, dropping from an all-time excessive (ATH) market capitalization of $88 billion in July 2025 to a fraction of that by the beginning of 2026. Just lately, on-line banter cash have been seeing a restoration of kinds, reaching as excessive as $40 billion in Could, however they nonetheless have an extended option to go to revisit their heyday.
The Future
Regardless of the fragility of memecoins, Pump.enjoyable will not be slowing its SOL gross sales, which is predicted to place additional stress on the crypto’s worth efficiency. It retains dumping the token as a substitute of conserving its stash throughout the ecosystem, which goes to harm traders who proceed to consider Solana is undervalued at this level.
The following bull market might be fascinating for Solana’s future, because it has to maneuver away from the memecoin financial system towards one thing extra worthwhile. For this reason it’s persevering with to spend money on RWA tokenization and DeFi sectors, hoping for them to have extra sway over the short-term frenzy of memecoins.
