{"id":55920,"date":"2025-07-14T13:42:35","date_gmt":"2025-07-14T13:42:35","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/solana-170-breakout-after-memecoin-launchpad-pump-fun-record-token-sale\/"},"modified":"2025-07-14T13:42:35","modified_gmt":"2025-07-14T13:42:35","slug":"solana-170-breakout-after-memecoin-launchpad-pump-fun-record-token-sale","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/solana-170-breakout-after-memecoin-launchpad-pump-fun-record-token-sale\/","title":{"rendered":"Solana $170 breakout after memecoin launchpad Pump.fun record token sale"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/solana-sol-symbol-on-smartphone-screen-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/solana-sol-symbol-on-smartphone-screen-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/solana-sol-symbol-on-smartphone-screen-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/solana-sol-symbol-on-smartphone-screen-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Solana price rises past $167 towards $170 after Pump.fun raises $500M in a record ICO.<\/li>\n<li>$75K in PUMP tokens have been burned due to a wallet cleanup mistake.<\/li>\n<li>Kraken has pledged a PUMP airdrop to users affected by sale glitches.<\/li>\n<\/ul>\n<p>Solana (SOL) has surged past the $167 following a wave of momentum generated by the explosive success of Pump.fun. This new memecoin launchpad raised over $500 million in a record-breaking token sale.<\/p>\n<p>The rally comes at a time when the broader crypto market is rising, buoyed by <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-hits-another-all-time-high-at-123000-beats-amazon-to-become-the-fifth-largest-asset-by-market-cap\/\">Bitcoin\u2019s surge to a new ATH<\/a>.<\/p>\n<p>Analysts and traders are closely watching Solana\u2019s price movement, as the network\u2019s memecoin ecosystem appears to fuel both retail enthusiasm and whale interest at scale.<\/p>\n<h2>Pump.fun\u2019s wild $500M ICO stuns crypto market<\/h2>\n<p>Pump.fun, a user-friendly token issuance platform built on the Solana blockchain, has made headlines by conducting <a href=\"https:\/\/www.bitget.com\/academy\/pumpfun-presale-latest-news-price-prediction\">one of the largest initial coin offerings<\/a> in crypto history.<\/p>\n<p>The platform raised an astonishing $500 million, with $448.5 million flowing in directly through its website in just 12 minutes, showcasing unparalleled demand and virality.<\/p>\n<p>This overwhelming investor response highlights the strong appetite for Solana-based memecoin projects, especially those that simplify the token creation process for everyday users.<\/p>\n<p>Around $51.5 million of the total ICO came through centralised exchanges, further reinforcing broad-based interest from both institutional and retail participants.<\/p>\n<p>Although memecoin launches often spark scepticism, the scale of this ICO marks a major moment for Solana\u2019s positioning in the DeFi and speculative token space.<\/p>\n<h2>PUMP token ownership concentration raises eyebrows<\/h2>\n<p>Despite the impressive raise, concerns are emerging over the concentration of token ownership within the PUMP ecosystem.<\/p>\n<p>Data shows that the top 340 wallets acquired more than $300 million worth of PUMP tokens, representing about 60% of the entire ICO.<\/p>\n<p>This level of centralisation has raised questions among traders about the future stability and decentralisation of the token, especially if large holders choose to exit positions suddenly.<\/p>\n<p>Still, others argue that such early-stage accumulation by whales is typical in crypto fundraising and does not automatically indicate market manipulation.<\/p>\n<h2>$75K PUMP token burn sparks cleanup tool debate<\/h2>\n<p>While the hype around PUMP has been largely positive, one Solana user made headlines after accidentally burning $75,000 worth of tokens during a wallet cleanup.<\/p>\n<p>Using an automated tool to clear what they believed were junk airdropped tokens, the user unknowingly included valuable PUMP tokens in the process, causing an irreversible loss.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u2320 Accidentally burned $75K worth of <a href=\"https:\/\/twitter.com\/search?q=%24PUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PUMP<\/a> \u2321<\/p>\n<p>Some CT bros have been farming engagement and running scams with my wallet address, so here\u2019s the real deal straight from me:<\/p>\n<p>Wallet: 4X43DmYRtzLcyv2YRhC8vaTeqB5BTL6jX7LDtzfz47aC<\/p>\n<p>I was just minding my business using <a href=\"https:\/\/twitter.com\/AxiomExchange?ref_src=twsrc%5Etfw\">@AxiomExchange<\/a>\u2026 <a href=\"https:\/\/t.co\/HIt2lHyHS4\">pic.twitter.com\/HIt2lHyHS4<\/a><\/p>\n<p>\u2014 CryptoCharming \ud83d\udc1f (@CryptoCharming1) <a href=\"https:\/\/twitter.com\/CryptoCharming1\/status\/1944597864136798663?ref_src=twsrc%5Etfw\">July 14, 2025<\/a><\/p>\n<\/blockquote>\n<p>The incident quickly spread across the Solana community, sparking debate over the safety and design of automated wallet management tools.<\/p>\n<p>Experts have warned that such tools, though convenient, can be dangerous if used without verifying token values, especially during early distribution phases when token metadata may not be clearly labelled.<\/p>\n<p>Some observers noted that the accidental burn could have a bullish effect by slightly reducing the token\u2019s supply, potentially increasing scarcity.<\/p>\n<h2>Kraken responds to user complaints with an airdrop pledge<\/h2>\n<p>In response to the controversy surrounding the PUMP token sale, Kraken co-founder Arjun Sethi stepped forward with a pledge to compensate affected users.<\/p>\n<p>Sethi confirmed that Kraken reviewed its internal logs and identified users who experienced issues during the launch due to system glitches.<\/p>\n<p>He promised an airdrop of PUMP tokens once the token becomes tradable, aiming to rebuild trust and improve transparency among the platform\u2019s user base.<\/p>\n<p>The move has been seen as a positive gesture, signalling Kraken\u2019s commitment to user protection in a chaotic and fast-moving market segment.<\/p>\n<h2>Solana price surge towards $170<\/h2>\n<p>Following these developments, Solana\u2019s native token, SOL, has risen to $167.92, at press time, pushing near the psychological resistance level of $170.<\/p>\n<p>The highly anticipated breakout above $170 comes amid rising 24-hour trading volume, which has hit over $12.6 billion, and a market cap that now approaches $90 billion.<\/p>\n<p>Notably, SOL\u2019s price has climbed nearly 15% over the past month, as momentum from memecoin speculation converges with growing institutional interest in Solana-based protocols.<\/p>\n<p>As traders look ahead, critical questions remain around sustainability, decentralisation, and platform innovation within the Solana ecosystem.<\/p>\n<p>For now, the combination of speculative interest, high-profile support, and developer activity is propelling Solana (SOL) into the spotlight, with many wondering just how high it can go.<\/p>\n<div class=\"ad-banner  container  pt-1\" data-partner=\"bitcoinpepe\">\n        <a href=\"https:\/\/bitcoinpepe.co\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" 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in a record ICO. $75K in PUMP tokens have been burned due to a wallet cleanup mistake. Kraken has pledged a PUMP airdrop to users affected by sale glitches. Solana [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":55921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/55920"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=55920"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/55920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/55921"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=55920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=55920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=55920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}