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Following Pump Fun Fee Account’s sale of 40,000 SOL, Solana’s price fell by 1.56%. This sale, occurring five hours prior, raised concerns in the market, increasing attention on Solana’s price movements.
Pump Fun’s Sales and Their Effects
Pump Fun, a meme coin launch platform based on Solana 
$177, has conducted significant SOL sales recently. The sale of the latest 40,000 SOL indicates that the platform continues this selling trend, which may exert pressure on the Solana market. To date, Pump Fun has sold over 500,000 SOL, raising concerns about whether its ongoing liquidation of SOL assets is contributing to short-term price pressure.
New Developments: Pump Advanced
Pump Fun announced its new trading terminal, Pump Advanced, during a Twitter Spaces event. This new tool aims to compete with platforms like Photon and Bull X by offering a commission-free trading opportunity for the first month, intending to attract traders. Co-founder Sapijiju indicated plans for a token launch in the future, stating that the airdrop will be more generous than those from competitors.
Increase in Solana Supply and Unlockings
This week, Solana will unlock 524,030 SOL tokens. Following the release of $81 million worth of SOL at the beginning of October, this marks the second major supply increase. During this period, the SOL price experienced a 6% decline but quickly recovered. The market is now waiting to see if the new supply will exert price pressure. Short-term pressure is anticipated, but demand from traders may help prices recover in a few weeks.
Historically, Solana has managed to withstand supply increases in the market. However, these consecutive unlockings complicate predictions of short-term price movements. Despite Pump Fun’s SOL sales and the forthcoming unlockings, experts remain confident in Solana’s future potential.
Conclusion and Long-Term Expectations
Pump Fun’s sale of 40,000 SOL led to a 1.56% decline in Solana’s price. The upcoming release of an additional 524,030 SOL may create short-term pressure. However, analysts believe Solana will recover in the long run, with CoinGape’s analysis suggesting a promising cup and handle formation on the weekly chart. If this formation completes, it could potentially lead to a 2,600% increase in price, reaching $4,500.
In summary, short-term fluctuations in Solana’s price are expected, while the long-term outlook remains positive.
