Recently, the memecoin market has been fluctuating distressingly, but PUMP is determined to 'go against the trend' — clearly, 744 million tokens were frantically sold by sellers, yet it surged 11.3% from the support level of $0.0026, reaching a high of $0.00306, and even the market cap was 'recovered' from $975 million to over $1 billion! As of the time of writing, PUMP is still stable at $0.0029, with a daily increase of 8.3%.
Is this rebound a 'technical recovery' or is it really starting a new trend? Let's break down what fans are most concerned about: 'fund flow' and 'practical signals' —
First, the futures market is crazy! The long-short ratio is 2.48, and some are borrowing money just to go long.
The most interesting thing is that when PUMP fell continuously a few days ago, a large number of investors instead rushed into the futures market to 'buy the dip'. Once Coinalyze data came out, many people were shocked:
The financing rate has soared to 0.021! This is not a small number — it means that many traders are 'borrowing money to go long', betting that PUMP will rise, and they are willing to pay a higher cost for this 'loan', indicating strong bullish sentiment;
The overall market long-short ratio is 2.48! In simple terms, for every 1 person who is bearish, there are 2.48 people who are bullish, with bulls occupying 71% of the futures positions. A fan shared in the community: 'Opened a futures long position near 0.0026, with a daily floating profit of 12%, originally worried about a dump, but ended up being pushed up by the bulls.'
It is precisely this batch of 'futures dip-buying funds' that forcibly pulled PUMP back from its downward trend — small investors should note: the sentiment in the futures market often drives the spot market, and the core momentum of this short-term rebound lies here.
Second, while dumping and buying the dip? Behind the sale of 744 million tokens, spot funds are secretly entering the market.
However, there are 'hidden worries' in the rising trend: just when PUMP was rebounding, sellers began to 'cash out'.
As of the time of writing, sellers have dumped a total of 744.9 million PUMP tokens, while buyers have only taken in 533 million tokens, resulting in a buy-sell gap (Delta) of -211 million tokens, and this has been a continuous 'net sell' for 4 days;
However, the reversal is that CoinGlass shows that the net flow of PUMP spot has turned positive for the first time in 5 days! On August 27, there was a net inflow of $165,900 — what does this indicate? On one hand, old players are taking profits at high positions (like those who previously bought the dip at 0.0026), while on the other hand, new funds are 'buying low before the rebound', making the long-short game quite nerve-wracking.
Here’s a reminder for fans: usually, when sellers gather to dump, it can crush the price, but this time the spot funds dared to enter, indicating that the support level of 0.0026 is indeed recognized by some, and the risk of a short-term breakdown is decreasing.
Third, can it rise next? Look at two key points, small investors shouldn't chase blindly.
Want to know if PUMP can 'hold on'? The technical side actually gives clear signals; we don't need to look at complicated indicators, just focus on two numbers:
In the short term, watch the $0.003 support: PUMP has already broken through the 9-day moving average (9DMA) — this is the 'traffic light' for short-term trends, and breaking through means a reversal of the downtrend; but it must hold above $0.003, and if it falls back below this number, it may need to test the support of $0.0026 again.
In the mid-term, watch the $0.0032 level: Currently, PUMP is touching the 21-day moving average (21DMA), and this position is a 'mid-term watershed' — if it can hold above $0.0032, the next step is likely to surge to $0.0038; if it can't break through, it may oscillate between $0.0029 and $0.0032.
Practical advice for small investors: Don't chase the highs! If it stabilizes around $0.003 during a pullback, consider buying low; if it directly surges to $0.0032 without volume, be wary of profit-taking pressure coming down (after all, there are still over 700 million tokens of selling pressure yet to be digested).
Finally, let me ask: do you think this wave is a real rebound or just 'a flash in the pan'?
Some say 'the futures bulls are too strong, can push to $0.004', while others fear 'the selling pressure isn't over, and after rising, it will fall again'. In this wave, are you buying the dip or waiting for a correction? Or do you have your own judgment? Follow Ming Ge, let’s keep a close eye on these two key levels: $0.003 and $0.0032!
