PUMP crypto token was rejected at $0.00238 amid a broader market correction and fell to $0.0021. Despite this market correction, the Pump.fun team intensified activity on the supply side, further threatening market stability.
Pump.fun offloads 543 million PUMP
Onchain Lens reported that the team’s wallet received 3.75 billion PUMP, valued at $25.39 million, from the Token Custodian wallet.
After holding these tokens for seven months, the wallet sold 543.23 million PUMP for $1.2 million. With the sale, the team takes a $2.48 million loss.
Even after this sale, the wallet still holds 3.2 billion PUMP worth $7.07 million. However, with PUMP trading significantly below its 2025 peak of $0.009, these tokens have lost more than $17 million in value.
By selling during periods of weakness, the team risks exacerbating an already struggling market, which could lead to price drops.
In addition to the team’s wallet, investors and holders have significantly increased selling activity. According to Coinalyze data, PUMP recorded 641.5 million in Sell Volume at press time, compared with 629 million in buy volume.
As a result, the market recorded a negative Buy-Sell Delta of -12 million PUMP, a clear sign of aggressive Spot-selling pressure.
Over the past 48 hours, the altcoin recorded more than 8.6 billion PUMP in Sell Volume, indicating strong sell-side pressure.
Typically, increased sell-side activity, especially during a correction, accelerates downside pressure, often a prelude to lower prices.
Any impact on PUMP?
Undoubtedly, increased selling activity adversely affected PUMP’s price action, causing further price slip. In fact, as of this writing, the token traded at $0.0021, down 0.19% on the daily charts, indicating short-term weakness.
The market closed at lower highs for two consecutive days, indicating that upside moves have recently been followed by pullbacks.
Amid dominant unsustained upward pressure, PUMP fell below its EMAlong, reflecting weak buyer confidence and seller’s rising confidence.
Additionally, the altcoin’s Relative Strength Index (RSI) crossed below its 50 level, indicating a bearish crossover. The RSI fell, from 51 to 47, supporting the bearish case.
With these directional momentum indicators converging, they suggested a stronger downtrend and a higher likelihood of trend continuation.
Therefore, if sellers continue to dominate the market, PUMP could experience further losses on its price charts. Such a bearish case will see SAR at $0.0017 serving as a key support level.
However, if buyers manage to absorb the pressure and reclaim $0.0022, the altcoin will be strong enough to target $0.0026. Reclaiming this level is key to PUMP’s upside potential.
Final Summary
- Pump.fun fell to a low of $0.0021 after it failed to hold $0.0023 levels amid a broader market correction.
- A wallet sold 543.23 million PUMP for $1.2 million after holding for seven months.
