It didn't sell out in under one minute. It was more like 12 minutes and was being sold from different platforms. Check out the official Pump.fun tweet. Token distribution is going to happen in the next 48 –72 hours but will remain locked until the distribution is done.
Forget about the premarket bullshit, we will get to know about the actual value of the token once the trading has officially started and has gone on for a few hours or days.
there can be delay though before listing, but i still think using pre-market price to determine the actaul listing price is still one of the surest bet one can make haha! there's high chance of going more higher than the pre-market coupled with BTC surging with 121K this morning