Despite the Pump.fun platform’s memecoin launch, Solana’s price has shown resistance. The fee account connected to Pump.fun sold $6.6 million worth of Solana (SOL) tokens on October 22. According to Lookonchain’s onchain data, Pump.fun still holds a significant amount of Solana.

Despite these sales, Solana’s price is up 9.3% on the weekly chart. According to Cointelegraph data, SOL/USD is up 0.8% in 24 hours to $165.8.

Large crypto asset holders can influence market movements. Pump.fun’s continued SOL selling could be putting pressure on the price. What are your thoughts?