大智-X
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The market is extremely pessimistic, does $PUMP have a chance for a rebound?
Currently, the sentiment around $PUMP has dropped to a freezing point, with prices giving back all gains from buybacks and even falling below the ICO issuance price. On-chain data shows that over 59% of ICO investors have liquidated their positions, and longs on Hyperliquid are experiencing massive liquidations, with negative terms such as 'out of control,' 'being cut,' and 'squeezed' prevalent in public discourse. Competitor Bonkfun is rising in this trend, and the market is generally bearish.
As trader unvested stated: "The stronger the hatred, the stronger the rebound." This is a typical bottom signal.
The $PUMP team has raised $500 million to $1.3 billion, and currently has used less than 3%, with the buyback wallet still holding over $12 million in SOL. Although the initial operations appear clumsy, they demonstrate a willingness and ability to support the price. 0xjaypeg suggested that this might be the team's way of washing out short-term speculators to pave the way for a strong base of holders.
The two major funds have sold a total of $86.4 million, releasing significant selling pressure, and the tokens are gradually being transferred to bottom-fish buyers. Meanwhile, long liquidations and negative funding rates have led to extreme bearishness in the derivatives market, accumulating energy for a future rebound.
Bonkfun poses a substantial threat, forcing the Pump team to take action: continuous buybacks, market promotion, incentivizing project integrations, and even airdrops may be rolled out. Pump remains one of the top on-chain launch platforms, and missing this window could mean a permanent loss of market share. @a1lon9 also indicated that an airdrop will be issued around the end of July, and currently, the market sentiment is quite bearish; this stage of airdrops should lead to a reversal in the market.
#pump #ETH #Bonk
Currently, the sentiment around $PUMP has dropped to a freezing point, with prices giving back all gains from buybacks and even falling below the ICO issuance price. On-chain data shows that over 59% of ICO investors have liquidated their positions, and longs on Hyperliquid are experiencing massive liquidations, with negative terms such as 'out of control,' 'being cut,' and 'squeezed' prevalent in public discourse. Competitor Bonkfun is rising in this trend, and the market is generally bearish.
As trader unvested stated: "The stronger the hatred, the stronger the rebound." This is a typical bottom signal.
The $PUMP team has raised $500 million to $1.3 billion, and currently has used less than 3%, with the buyback wallet still holding over $12 million in SOL. Although the initial operations appear clumsy, they demonstrate a willingness and ability to support the price. 0xjaypeg suggested that this might be the team's way of washing out short-term speculators to pave the way for a strong base of holders.
The two major funds have sold a total of $86.4 million, releasing significant selling pressure, and the tokens are gradually being transferred to bottom-fish buyers. Meanwhile, long liquidations and negative funding rates have led to extreme bearishness in the derivatives market, accumulating energy for a future rebound.
Bonkfun poses a substantial threat, forcing the Pump team to take action: continuous buybacks, market promotion, incentivizing project integrations, and even airdrops may be rolled out. Pump remains one of the top on-chain launch platforms, and missing this window could mean a permanent loss of market share. @a1lon9 also indicated that an airdrop will be issued around the end of July, and currently, the market sentiment is quite bearish; this stage of airdrops should lead to a reversal in the market.
#pump #ETH #Bonk
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