Pump.fun’s PUMP Token Falls Below ICO Price
The post Pump.fun’s PUMP Token Falls Below ICO Price appeared on BitcoinEthereumNews.com.
Pump.fun’s PUMP token has dropped below its presale price, triggering fresh panic among retail traders. The token is now trading around $0.00406, down nearly 21% in the past 24 hours. The selloff intensified even after listing on major exchanges like OKX and BitMEX. PUMP Token Sell Pressure Grows as Buyback Efforts Fall Short According to CoinMarketCap data, PUMP token’s market cap has reduced to $1.43 billion. Despite over $1.1 billion in 24-hour trading volume, bulls failed to hold support zones. The earlier high near $0.00522 has now become resistance, as sellers continue to dominate the token’s market. Source: CoinMarketCap Based on BitMEX data shared on X, 59.6% of early investors have already sold or transferred their PUMP tokens. However, only 3% of this group have increased their holdings. This suggests fading confidence, despite earlier optimism after the ICO raised $448.5 million from 10,145 participants. According to Coinalyze data, open interest in perpetual contracts has also declined 16.3% in one day, now standing at $629.2 million. Source: Coinalyze Crypto Bully, a well-known trader, said via an X post that he expects more downside unless a strong catalyst emerges. He called the current technical signals a setup for short positions. However, he didn’t provide the next possible crucial support level for PUMP token. Pump.fun repurchased $2.3M in PUMP tokens to stabilize the price. But the situation worsened after the much-hyped buyback strategy failed to stop the bleeding. However, the price drop below the ICO floor confirms fears that early liquidity exit was outweighing any long-term holder conviction. Exchange Listings Fail to Lift Token’s Price as Sentiment Remains Bearish OKX confirmed via X that spot trading for PUMP token against the USDT began earlier today. But the launch failed to generate a lasting rally. Meanwhile, some retail traders believe a rebound is near.…
Filed under: News - @ July 19, 2025 7:26 am