In the grand tapestry of deceit, a new thread has been woven. The vaunted Pump.fun token launch, a spectacle of hype and hubris, has attracted the attention of whales. But they are not here to partake in the festivities; they have come to feast on the carcass of this doomed endeavor.
The founder, a self-proclaimed skeptic of presales, has undergone a transformation of Damascene proportions. He now champions the very model he once decried as a scam. The irony is not lost on us, dear reader. It is a tale of contradictions, of flip-flops and flimflam.
The Whales Circle Their Prey
On-chain data, that most unforgiving of witnesses, reveals the true intentions of these whales. At least $11 million in USDC has been deposited into Hyperliquid perpetual DEX, a war chest for the impending battle. These deposits, all from newly created wallets, are the harbingers of doom for the PUMP token.
Lookonchain, that tireless sentinel of the blockchain, has sounded the alarm. One wallet, a behemoth of speculation, has moved $4 million in USDC into Hyperliquid and shorted PUMP with 2x leverage. The audacity is breathtaking, a testament to the hubris of these whales.
Another newly created wallet deposited 4M $USDC into Hyperliquid and shorted $PUMP(@pumpdotfun) with 2x leverage. 🚨💸
— Lookonchain (@lookonchain) July 10, 2025
But this is not an isolated incident. Oh no, dear reader. Two other wallets, those ubiquitous agents of speculation, have combined for a $7 million short position on the same token. The writing is on the wall, and it spells doom for Pump.fun.
2 wallets deposited 7M $USDC into Hyperliquid and shorted $PUMP(@pumpdotfun) with 1x leverage. 🚨💸
— Lookonchain (@lookonchain) July 10, 2025
The timing, that most crucial of factors, is not lost on us. The Pump.fun token launch, a spectacle of hype and hubris, is mere days away. The whales are circling their prey, sensing the desperation of the Pump.fun team.
Pumpfun(@pumpdotfun) announced it will officially launch $PUMP via ICO on Saturday, July 12, along with revealing the tokenomics. 🚀👀
And #Pumpfun has not deposited any $SOL to #Kraken for about a month since June 10. 🤔
— Lookonchain (@lookonchain) July 9, 2025
The surge in bearish bets has fueled growing concerns about Pump.fun’s transparency and timing. The project, once a darling of the meme coin creation platforms, has been suspended from X (Twitter) only weeks ago. The warning signs are there, dear reader. Will you heed them, or will you succumb to the siren song of hype and hubris?
The Founder’s Flip-Flop and the $741 Million Sell-Off
The platform has raised eyebrows over the massive offloading of Solana (SOL) holdings. Between May 19 and June 10, Pump.fun sold approximately 4.1 million SOL, worth roughly $741 million, at an average price of $180. The audacity is breathtaking, a testament to the hubris of the Pump.fun team.
“Pump.fun, recently suspended by X, has sold a total of ~4.1M SOL ($741M) at an average price of ~$180 since May 19, 2024. 264,373 SOL was sold for 41.64M USDC at $158. 3.84M SOL ($699M) was deposited to Kraken at $182,” Lookonchain revealed in a June 17 post. 🚨💸
The timing of this sell-off, paired with the ICO announcement, has sparked speculation that insiders may be cashing out ahead of potential volatility. The warning signs are there, dear reader. Will you heed them, or will you succumb to the siren song of hype and hubris?
Another layer of controversy was added after the launchpad’s co-founder, Alon Cohen, called token presales scams. The irony is not lost on us, dear reader. It is a tale of contradictions, of flip-flops and flimflam.
1) Presale – have to market it to Valhalla to justify a valuation, massive pressure to perform, tons of room for error w/ setting it up, avoiding snipers, etc.
2) Pump dot fun launch – extremely… 🤔
— alon (@a1lon9) March 30, 2024
With Pump.fun embracing the model, the upcoming launch marks a contradiction or change in perspective, turning heads, particularly amid little clarity on how the ICO funds will be allocated or governed. The warning signs are there, dear reader. Will you heed them, or will you succumb to the siren song of hype and hubris? 🚨💸
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2025-07-10 14:18