Memecoin Launchpad Pump.fun Cements $436M Exit Amidst Market Fading Mania

The memecoin launchpad, Pump.fun, has recently executed a substantial withdrawal of over $436 million in stablecoins from its platform. This move follows a significant decline in trading activity following the October market crash and comes as memecoin trading momentum fades. Blockchain data platform Lookonchain reveals this massive transfer occurred after the record-breaking $19 billion crash that decimated speculative interest in the sector. This substantial withdrawal is believed to have been driven by an attempt to capitalize on gains, despite the ongoing slowdown in crypto market activity.