Key Takeaways
Oh, the irony! Those who thought buying PUMP would be a quick ticket to riches might just find themselves on a one-way trip to the poorhouse. The lack of an airdrop and a heavy dose of selling have conspired to drag the price down by up to 27%. 🤦♂️
Pump.fun [PUMP], the Solana [SOL]-based memecoin launch platform, has seen a torrent of selling pressure in recent days. After the ICO, the token briefly soared to $0.0067 on Tuesday, 15 July. But like a balloon with a pinprick, it’s since deflated by 56%. 💨
It turns out that 33% of the total supply was unleashed on day 1, giving early investors the perfect opportunity to cash out and leave the party. Critics say this is exactly what happened, sending the price into a nosedive. 📉
And if that wasn’t enough, the broader crypto market hasn’t been much help. Ethereum [ETH] tumbled from $3,860 to $3,657, causing $190 million worth of liquidations in just 24 hours. Not exactly a vote of confidence for PUMP, now is it? 😅
To add insult to injury, project co-founder Alon Cohen announced that an airdrop is not on the horizon. This news sent investor confidence plummeting, with large holders already bailing out. It’s like watching a ship sink, but in slow motion. 🚢🌊
What to expect next for PUMP?
The 1-hour price chart reveals a sizeable fair value gap (white) left behind after the drop on 23 July. As of now, this gap remains unfilled, and the market structure is decidedly bearish. It’s like a black hole of despair, pulling everything down. 🌌💔
Fibonacci retracement levels suggest that any potential bounce will face stiff resistance between $0.0034 and $0.0038. If this region is retested, it might be a golden opportunity to sell PUMP or go short. Think of it as a “Buyer Beware” sign in neon lights. 🚧💡
The technical indicators are painting a grim picture. The CMF is below -0.05, indicating a strong outflow of capital. The OBV has been trending downward, signaling increased selling pressure. And while the RSI shows a hidden bullish divergence, it hasn’t managed to climb back up. All signs point to a bear market in the short term. 🐻📉
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2025-07-25 08:09