The $PUMP ICO was one the largest in history.

I won't bore you with the stats, you already know those.

Here's my take: $PUMP bottomed already.

Why?

Note: We're looking at sales or transfers below:

- The ICO participants who wanted to sell are out (or transferred). The Public sale participants have mostly sold or transferred out their $PUMP.‍

- The largest wallets have held on to a larger share of their tokens than smaller wallets, this may be due to both investment thesis and available liquidity to exit their positions.

Share of wallets sold or transferred from the public sale ICO participants
Share of wallets sold or transferred from the fund/institutional sale ICO participants
Share of wallets sold or transferred by initial investment size from ICO participants

- The change in optimistic sentiment and drop in fee revenue is now priced in, any positive news will be reflected in price action hereon. It only needs some positive news flow.

- Pumpfun market share dropped from 90% to 15%, it's now the challenger brand with everything to win.

- Pump raised $1.3b and generated $700m in fee revenue, so they have a ~$2b war chest whilst the token is at ~$3.2 FDV.

- The @pumpdotfun team is increasing transparency with their fee dashboard http://fees.pump.fun and buybacks. They also have an official @Blockworks_ dashboard (in collab with the team) https://blockworks.co/analytics/pumpfun/pump-fun-ico. I'd expect more updates to come soon since the team has started communicating.

To see the dashboards above built on @Dune, here are the links:

-This Dune dashboard here: https://dune.com/0xsloane/pumpicotracking  

-My account here:

https://dune.com/0xsloane

Stay tuned for more!

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