of $pump The token has remained under pressure over the past 24 hours, extending its recent decline as fresh allegations against Pump.fun surfaced on social media.
The company also stepped up efforts to strengthen its legal team.
At the time of writing, $pump It traded at $0.001261, down 9.1% in the past 24 hours, according to data from the crypto trading app.
During the session, the token hovered between $0.001232 and $0.001410, with the day’s low hitting a new all-time low before the token recovered slightly.
The token is currently down 15.3% over the past seven days and 28.7% in the past month, highlighting the sustained selling pressure weighing on the asset.
Despite the price drop, trading activity remains strong; $pump Over $61.2 million in 24-hour trading volume was recorded, with traders reacting to both corporate trends and broader crypto market sentiment, reflecting continued participation in the market.
The latest development also comes after new research from CoinGecko revealed high attrition rates for tokens launched on Pump.fun.
The study found that 68.67% of the 18.67 million tokens created on the platform ceased trading on the day of launch, but only 4.55% remained active for more than 90 days, highlighting the challenges faced by many newly launched meme coins.
Insider token dumping suspicion
Further pressure came after X user Mai (@Insidevoicer) published a series of posts alleging misconduct within Pump.fun.
According to the post, three confidential witnesses allegedly provided inside information related to the company.
Mai claims that one of the witnesses was an early core member of the Pump.fun team who provided internal Telegram conversations, and another allegedly handed over a “KOL contract” along with what the author described as evidence of insider token sales.
The post further argued that Pump.fun’s legal response does not directly deny the allegations, but is based on legal arguments regarding the treatment of confidential witness testimony.
These claims have not been independently verified, and Pump.fun has not publicly confirmed the claims made in X’s posts.
In another post published earlier this week, Mai also claimed that Pump.fun had entered into an undisclosed profit-sharing agreement with DexScreener.
This claim is based on the author’s interpretation of product integration, not on published documentation, and no evidence was provided to confirm such an agreement.
Pump.fun seeks high-end CLO amid intense regulatory scrutiny
While these allegations spread online, Pump.fun’s parent company, Baton Corporation, moved forward with plans to hire a chief legal officer.
The firm offers base salaries in the range of $1 million to $5 million, making them the highest-paid legal executives in the digital assets industry.
We're hiring a Chief Legal Officer for Baton Corporation, the development company behind Pump fun.
We've built one of the fastest growing crypto platforms in history, with ambitions to create a global consumer brand that tokenizes the world's highest potential, early-stage…
— alon (@a1lon9) June 24, 2026
The successful candidate will oversee legal strategy across multiple jurisdictions, including matters involving the U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), FinCEN, OFAC, the UK Financial Conduct Authority (FCA), and the European Union’s Markets in Cryptoassets (MiCA) frameworks.
The role also includes responsibilities for anti-money laundering and customer awareness compliance, corporate governance, commercial law, regulatory investigations and litigation.
According to Baton Corporation, Pump.fun currently processes more than $300 million in trading volume per day and generated more than $500 million in profits in the past year while operating with fewer than 100 employees.
The legal hiring comes as the platform continues to face class action lawsuits and increased regulatory attention.
$pump Token technical outlook remains under pressure
$pumpRecent price movements reflect continued weakness after breaking below key support areas.
$pump The token remains approximately 85.7% below its all-time high of $0.008819 reached in September 2025, but is trading just above the new all-time low of $0.001232.
Market analysis following this sell-off points to increased trading activity as the sell-off accelerates, suggesting bearish momentum will be maintained in the short term.
At the same time, the current situation is almost oversold, leaving the possibility of a short-term rebound if overall crypto market sentiment improves.
