Solana Price Under Pressure as Pump.fun Continues Selling

Pump.fun's recent Solana sales have introduced renewed supply pressure to the market. The platform sold an additional 47,994 SOL tokens valued at approximately $5.83 million. This brings their total cumulative sales to 5.24 million SOL, worth around $848 million.

This selling activity has added to the existing market supply as Solana struggled to extend its price recovery. Despite this, institutional demand for Solana remains strong, with record ETF inflows recorded in recent sessions.

However, the latest price advance pushed Solana's price into the $122.70 zone, where sellers rejected the rally. This rejection has put pressure on the token's ability to break through above $122.70 and regain control of its price structure.