PUMP falls 9% as $8.3 million in longs are liquidated

  • PUMP fell 9% after rejection at $0.0061 amid broad crypto-market selling.
  • More than $8.3 million in PUMP longs were liquidated versus $0.7 million in shorts, including two traders holding 707.6 million PUMP worth $3.61 million.
  • Spot buy volume exceeded sell volume for three consecutive days while PUMP’s broader market structure remained bullish.

PUMP faced intensified selling after a weak jobs report pressured the broader crypto market, falling 9% from a rejection at $0.0061 to a reported low of $0.00509 and $0.0054 at press time. More than $8.3 million in PUMP long positions were liquidated, compared with $0.7 million in shorts, including two major traders whose 707.6 million PUMP position was valued at $3.61 million. Trading volume rose 55% to $605 million, while futures netflow fell 237% to negative $10.7 million. Spot buy volume exceeded sell volume for three consecutive days, and PUMP’s higher-low structure, rising support, upward-moving MACD and RSI near 62 suggested a still-bullish market structure, although continued derivatives selling could push the token below $0.005 toward $0.0046.

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