In light of recent sales, the PUMP token's market cap has dropped to $1.43 billion, raising questions about its future prospects.
Current Market Situation
With a current daily trading volume exceeding $1.1 billion and listings on OKX, BitMEX, and others, the PUMP token has failed to maintain upward momentum. Its main support zone has now flipped into a resistance level.
Investor Behavior Analysis
Data from BitMEX shows that nearly 60% of early buyers have already offloaded or moved their tokens. Only a small minority — about 3% — increased their holdings, suggesting fading conviction.
Outlook and Predictions
The $2.3 million buyback by Pump.fun failed to halt the decline, and open interest in derivatives fell sharply by more than 16%, now sitting at $629.2 million. While some traders see signs of a potential rebound, sentiment remains overwhelmingly bearish. With no clear bullish catalyst in sight, the selloff shows no signs of slowing.
The situation with the PUMP token remains tense, and investors should closely monitor market changes to assess their implications.
