Investors rush into historic PUMP pre-sale while whales quietly prepare for a crash

Solana-based memecoin level Pump.fun is preparing for what could go 1 of the largest token income successful crypto history.

The task aims to rise $1.32 cardinal done its upcoming PUMP token offering, perchance securing the 3rd spot among the highest-ever fundraising events successful the industry.

According to information from Cryptorank, Pump.fun’s fundraising extremity would enactment it conscionable down the now-defunct FTX exchange, which raised $1.75 cardinal from its FTT sale. It would besides travel EOS (now Vaulta), which raised $4.26 cardinal successful 2018.

Largest Crypto Token Sales. (Source: CryptoRank)

Terra’s $1.2 cardinal rise from LUNC presently holds 3rd place, followed by UNUS SED LEO and bankrupt Celsius astatine $1 cardinal and $910 million, respectively.

Pump.fun has scheduled the PUMP token motorboat for July 12. The token volition person a fixed proviso of 1 trillion, with 33% allocated for its archetypal coin offering (ICO).

Of that, 18% volition beryllium distributed via a backstage merchantability to organization investors. The remaining 15% volition beryllium sold to the nationalist done exchanges similar Kraken, KuCoin, and others.

Each token volition beryllium priced astatine $0.004 and person nary vesting schedule, meaning each purchased tokens volition beryllium instantly disposable upon launch.

Market sentiments astir the PUMP token

However, adjacent earlier its authoritative launch, the token has generated important involvement successful the market.

According to CoinGlass data, pre-market perpetual contracts for the PUMP token person jumped by much than 300% to scope $346 cardinal successful volume, with $115 cardinal successful unfastened interest.

This indicates beardown capitalist anticipation astir the yet-to-launch crypto token.

Despite this aboriginal excitement, determination is increasing skepticism from ample crypto investors.

Onchain Lens, a blockchain information platform, reported that respective crypto whales are betting against the token’s terms by shorting PUMP up of its launch. These whales person deposited millions of dollars into the Hyperliquid platform, signaling a deficiency of assurance successful the token’s semipermanent performance.

Whales expect that PUMP volition travel the emblematic signifier of galore Initial Coin Offerings (ICOs). This means they judge the token would acquisition an archetypal surge followed by crisp terms declines.

The station Investors unreserved into historical PUMP pre-sale portion whales softly hole for a crash appeared archetypal connected CryptoSlate.