🔍 $PUMP post-mortem: the Solana memecoin that rocketed on hype has now fallen -95 % in 21 days, slicing through its presale price and wiping out almost $400M in paper value. What drove the collapse? • $160M in private-sale tokens hit CEXs as early whales rushed for the exit • Airdrop + vesting delays spooked momentum traders, while fresh legal pressure on pump.fun’s launchpad added fuel to the sell-off • Liquidity vanished: 24-h volume is down -88 % from the July 16 peak, leaving bids paper-thin Takeaways (NFA): 1️⃣ High FDV + weak lock-ups = exit ramp for insiders. 2️⃣ “Fair-launch” optics don’t matter if dev timelines drift. 3️⃣ Retail still sits on the sidelines—memecoins remain a reaction market: euphoria ≠ liquidity. Lesson: Size positions for survivability first, upside later. Follow @Modus for real-time breakdowns. 🚀