PUMP token falls 40% since launch – Is a price recovery in sight?

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.