Adding to the trend, 53% of presale buyers have moved their tokens to new wallets, including centralized exchanges, which is a likely sign of more sell-offs ahead.
Spotonchain pointed out that some traders involved in these asset movements have registered significant profits.
According to the firm, the top presale buyer, who spent $100 million to purchase 25 billion PUMP tokens, has already deposited 17.1 billion tokens, worth $89.5 million, into centralized exchanges via FalconX.
Despite the sell-off, the wallet still holds 7.99 billion tokens valued at $29.5 million, giving the investor an unrealized profit of $19 million.
The second-largest buyer, tagged “PUMP Top Fund 2,” purchased 12.5 billion tokens for $50 million and has since moved the entire stash to centralized exchanges. That transaction netted $71.4 million, translating to a 43% gain, or $21.4 million in profit.
While most large holders appear to be taking profits, a smaller segment is holding firm.
SpotOnChain noted that around 13% of presale buyers still retain their holdings, and only 2.7% have increased their positions.
The blockchain analytical firm cited two wallets, identified as “8UHpWB” and “9Ucygi,” which each invested $80 million for 20 billion tokens and are now down approximately 7.7%, equating to a $6.19 million unrealized loss per wallet.
Another whale, labeled “2WHL4X,” bought 10 billion tokens for $40 million and has also suffered a 7.7% decline, with losses totaling $3.1 million.
Moreover, the well-known crypto trader Machi Big Brother is also underwater, facing a potential $4.06 million loss on a 5x leveraged long position worth 3.55 billion tokens.
