- $PUMP slips below ICO price as selling pressure erases early holder profits fast
- Bearish technicals persist with lower highs, weak RSI, and declining momentum
- Volume plunges 24%, exposing waning interest and risk in meme coin market
In a swift reversal of fortunes, Pumpfun’s highly anticipated $PUMP token has stumbled below its ICO valuation, just days after launch. Initially touted as a viral meme coin with a $4 billion fully diluted valuation (FDV), the token has seen a steep sell-off that wiped out gains for all holders.
The sharp drop has raised concerns among investors, particularly as both price and volume reflect waning interest and heightened volatility. Despite early hype, $PUMP is now trading well below its launch valuation, signaling broader risk sentiment in the meme coin space.
Price Action Reflects Mounting Pressure
As of press time, $PUMP trades at $0.004320, marking a 5.93% daily decline. Its market cap has slid to $1.52 billion, nearly 6% lower than the previous day. Although FDV remains at $4.31 billion, the disconnect between fully diluted potential and real-time market behavior reveals investor caution.
Crucially, the circulating supply stands at 354 billion tokens, while total supply is capped at 1 trillion. This gap means more tokens could flood the market, applying further downward pressure.
Trading volume has dropped sharply by nearly 24% in the last 24 hours, now resting at $865 million. Such a decline in activity indicates fading investor enthusiasm or brewing uncertainty.
Technical Outlook Signals Bearish Sentiment
From a technical standpoint, $PUMP is caught in a short-term downtrend. Price action has been printing lower highs and lower lows, confirming continued weakness. Resistance levels around $0.004531 and the $0.00446–$0.00448 range have capped upward momentum multiple times, creating a ceiling for now.
On the downside, support has formed at $0.00400, with intraday lows between $0.00393 and $0.00395 becoming critical to monitor. A break below this zone may open the door to steeper losses, especially in the absence of new buying interest.
Indicators Suggest Weak Momentum
Momentum indicators further emphasize bearish control. The MACD line is deep in negative territory at -0.017858, while the signal line lags behind at -0.011866. There’s no sign of a bullish crossover, leaving little hope for an immediate reversal.
Meanwhile, the RSI has recovered slightly to 31.62 after plunging as low as 18.15. While this bounce indicates short-term relief, it remains far below the neutral 50 mark, keeping sentiment firmly bearish.
