๐ฃ๐จ๐ ๐ฃ ๐ง๐ผ๐ธ๐ฒ๐ป ๐ง๐๐บ๐ฏ๐น๐ฒ๐ ๐๐ฒ๐น๐ผ๐ ๐๐๐ข ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ โ ๐ช๐ถ๐น๐น ๐๐๐๐ฒ๐ฟ๐ ๐ฆ๐๐ฒ๐ฝ ๐๐ป?
โ Pump.funโs PUMP token has slipped below its presale price despite big exchange listings, triggering fear among retail traders.
The current price is $0.004324, down over 21% in the past day.
๐ Why Is the Price Falling?
Early investors have been exiting heavily: BitMEX data shows ~59.6% of ICO buyers already sold or moved tokens.
Buyback failed: Pump.fun spent ~$2.3M on buybacks, but price kept dropping.
High trading volume, but more selling than buying: $1.1B 24h volume shows activity, but bears dominate.
The previous high near $0.00522 has turned into new resistance.
โ๏ธ Technical & On-Chain Signals (Simplified)
Open interest (active futures positions) dropped 16.3% to ~$629.2M โ shows traders closing positions, often a bearish sign.
Chart from @CryptoA4 shows Stochastic RSI oversold, hinting a bounce might come โ but confidence remains low.
Without fresh positive news, price stays downward.
๐ What Traders Should Watch Next
โ See if price can reclaim $0.005: turning old resistance into new support could change short-term trend.
โ If price keeps falling, look for next major support: current levels donโt show clear strong support, so downside risk remains.
๐ง Why the Panic?
The ICO raised ~$448.5M from 10,145 buyers โ many rushed to sell early, fearing others would exit first.
Exchange listings (OKX, Kraken, Bybit, KuCoin, MEXC) didnโt trigger sustained demand.
Market cap fell to ~$1.43B, reflecting fading optimism.
๐ Summary :
PUMP token launched with hype and big exchange support but crashed below ICO price as early investors sold.
Even a multi-million buyback failed to hold price. Unless new news appears or price breaks back above ~$0.005, risk stays high.
Traders should watch volume, support/resistance flips, and any major announcements.