PUMP, the native token of Pump.fun, has dipped below its presale value, raising concerns among retail investors despite high-profile exchange listings. At around $0.00406, the price has dropped over 20% in just one day.
Even with over $1.1 billion in daily trading volume and listings on OKX, BitMEX, and others, the token couldn’t maintain upward momentum. Its market cap has slid to $1.43 billion, and what was once a key support zone has flipped into resistance.
Data from BitMEX shows that nearly 60% of early buyers have already offloaded or moved their tokens. Only a small minority — about 3% — increased their holdings, suggesting fading conviction.
The $2.3 million buyback by Pump.fun failed to halt the decline, and open interest in derivatives fell sharply by more than 16%, now sitting at $629.2 million. While some traders see signs of a potential rebound, sentiment remains overwhelmingly bearish.
With no clear bullish catalyst in sight, the token’s trajectory appears uncertain — and for now, the selloff shows no signs of slowing.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/mass-selloff-hits-pump-can-it-recover/