The Pump.fun team transfers 1.75 billion PUMP: Can the bulls absorb the selling pressure?

Pump.fun (PUMP) has shown almost no significant reaction to recent developments involving the project team over the past 24 hours.

Currently, market sentiment appears to be primarily shaped by the actions of retail investors and on-chain users on the platform. Observers are closely monitoring to determine whether PUMP’s next move will be a short-term rebound or a continuation of the downtrend.

Team Moves Tokens to Exchanges

Recent on-chain activity indicates notable movements from wallets believed to be associated with the project development team.

According to recorded data, in the early hours of March 6th, a wallet linked to Pump.fun executed two transactions transferring native PUMP tokens to the Bitget cryptocurrency exchange. The largest transaction involved selling 1.75 billion PUMP, worth approximately $3.54 million. Additionally, a smaller transaction of 5,000 PUMP, valued at around $10, was also recorded.

Typically, transferring tokens from a personal wallet to centralized exchanges can make the market cautious, as this action may increase the available supply for sale, raising concerns about potential selling pressure.

However, market reactions this time have been quite subdued. PUMP’s price only dropped slightly by 1.73%, while trading volume decreased by about 21%, down to nearly $100 million during the same period — indicating that investor sentiment remains in observation mode rather than reacting strongly.

Market Absorbing Potential Selling Pressure

Up to now, netflow data on spot exchanges has not shown clear signs of a large-scale sell-off.

This indicator tracks the inflow and outflow of assets on exchanges, reflecting whether bulls or bears are currently in control of the market.

According to data from CoinGlass, investors have maintained a buying trend for PUMP over the past five days, starting from March 2nd. On average, the market has recorded about $691,000 in daily net purchases.

Source: CoinGlassHowever, a longer-term market indicator reveals a different picture. The Accumulation/Distribution (A/D) indicator — a tool measuring whether investors are accumulating or distributing assets over time — shows that selling pressure still dominates.

Chart data indicates that distribution began around November 2025 and has continued to this day. In just the past 24 hours, approximately 6 billion PUMP tokens have been circulated, demonstrating ongoing supply being released into the market.

The divergence between short-term spot buying activity and the long-term A/D signals suggests that current accumulation activity remains relatively weak. This aligns with the modest buying volume observed over the past five days.

On-Chain Activity Remains Stable

Despite market uncertainties, on-chain activity within the Pump.fun ecosystem continues to operate quite steadily.

Trading volume on the platform’s launchpad continues to grow, indicating sustained active participation from users — a factor that could support demand for the token in the near future.

Source: ArtemisAccording to Artemis data, total launchpad volume currently stands at $101.8 million, marking the second-highest level since the beginning of the year. The peak was recorded on March 2nd, with a volume of $105.2 million. Notably, prior to this recent growth wave, the last time launchpad activity reached a similar scale was in October 2025.

The increased platform usage suggests the ecosystem remains attractive, potentially gradually strengthening overall demand and the long-term value of the PUMP token.

Another important indicator to monitor is the platform’s daily revenue. Currently, Pump.fun generates around $1.3 million per day — a figure reflecting active ongoing operations across the entire ecosystem.

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