The $PUMP token serves as the native utility and governance asset for the platform, powering rewards, protocol fees, and user incentives. Despite its strong utility, the token has faced heavy selling pressure.#CryptoClarityAct

Recent blockchain data from Lookonchain reveals that early backers have been offloading billions of $PUMP onto exchanges, sparking fears of a further price decline.#StablecoinLaw

One wallet, “PUMP Top Fund 1,” acquired 25 billion $$PUMP $100 million) during the presale. Last week, it deposited 17 billion tokens (~$90 million) onto exchanges. According to BitMEX, nearly 60% of presale participants have already sold or transferred their holdings—a trend that could indicate weakening confidence.

Pump ides Deeper as Buying Interest Fades

The decline in PUMP/USDT has been steady rather than sudden, with the price grinding down over several sessions. After failing to hold the $0.0046–$0.0048 zone earlier in the week, the market has printed a clear pattern of lower highs, and the price is now hovering near $0.00370.#CryptoMarket4T

Each recovery attempt has been short‑lived, emphasizing the weight of the broader downtrend.

Momentum indicators have been warning of this weakness. The RSI has fallen to around 32, brushing against oversold territory and reflecting a lack of sustained buying pressure.#Write2Earn

The MACD has also rolled over decisively, with its lines sitting well below zero and the histogram stacked with red bars.

These signs show that bearish momentum has been in control for several sessions, and rallies that emerge have been corrective rather than trend‑changing.

The order‑flow footprint also speaks volumes.

Recent hourly prints are dominated by heavy negative deltas, like a –266.75M delta on 6.3B turnover and another –345.92M on 6.11B. These figures reveal aggressive selling into bids and buyers unable to absorb the flow.

Even strong green bursts, such as a +516.42M delta on 7.35B, were quickly followed by more selling, suggesting those moments were fleeting rather than the start of a shift.

For now, the market remains under pressure. Until PUMP can reclaim and hold above $0.00390 with fresh volume, the path of least resistance stays to the downside. Support in the $0.00360 region may offer the next test to see if sellers finally lose their grip.@Lagrange Official @Chainbase Official @Caldera Official @Huma Finance 🟣