Despite significant selling pressure from the memecoin launch platform Pump.fun, Solana’s price has shown resilience. As of October 22, Pump.fun's fee account sold over $6.6 million worth of SOL tokens, but it still holds a substantial amount valued at over $47 million. Onchain intelligence firm Lookonchain noted that Pump.fun has generated nearly $162 million in total revenue from SOL sales, contributing to considerable market movements. Solana's price increased by 9.3% over the past week, trading at about $165.8, with whales impacting its market dynamics through their selling patterns. The ongoing memecoin trends on the platform appear to be contributing to pressure on the SOL price, especially since similar previous sell-off activities affected its valuation. However, there is growing anticipation regarding potential exchanges for Solana-based assets, which could ignite further price momentum for SOL in the future.

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