PUMP token falls 40% since launch – Is a price recovery in sight?
Main Idea
The PUMP token has experienced a significant price drop of over 40% since its launch, falling below its ICO price due to heavy sell-offs by top holders, but exchange outflows and oversold RSI suggest potential accumulation and a possible rebound.
Key Points
1. PUMP token's price has dropped over 40% since launch, falling below its ICO price.
2. Heavy sell-offs by top holders, including one who sold 17 billion PUMP and another who sold their entire 12.5 billion PUMP position, are driving the price decline.
3. 24-hour trading volume for PUMP increased by 32% to $721 million, indicating heightened activity.
4. On-chain data shows a $2.16 million outflow of PUMP tokens from exchanges, suggesting possible accumulation.
5. PUMP's RSI is at 32, indicating it is oversold, which could signal a potential rebound if the price breaks above $0.0042.
Description
Pump.fun token's price has now fallen below the ICO level.
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