PUMP slides further as buyback debate rages: Will $0.0029 turn things around?

Key Points

1. PUMP fell 8% on July 26 but later recovered, continuing its volatile trend since its July 16 launch.

2. Heavy sell-offs by top holders pushed PUMP below its ICO price on July 22, despite a $19.6 million buyback effort.

3. Analysts note the buyback's current value is only $7.6 million, sparking debate over its impact on the $2.4 billion market cap asset.

4. Short-term support is observed at $0.00245, with indicators suggesting weakening bearish momentum and potential for gains if $0.0029-$0.003 resistance is breached.

5. The past ten days have been predominantly bearish, prompting caution among traders and investors.