PUMP Price Crashes to 5-Month Low After 33% Decline This Week
PUMP token price plummeted to a five-month low following a 33.8% weekly decline amid sustained capital outflows.Summary
The PUMP token price has crashed to its lowest level in five months, currently trading near $0.002031 after a weekly drop exceeding 33.8%. This sharp decline is attributed to sustained capital outflows from holders who see limited near-term value, confirmed by the Chaikin Money Flow (CMF) hitting an all-time low, indicating aggressive selling.
The token's macro outlook is closely tied to Bitcoin, with its correlation rebounding to 0.78, meaning PUMP is likely to follow any further weakness in Bitcoin near the $86,000 level. If selling pressure continues, PUMP risks falling toward the critical support level of $0.001917, with a breakdown potentially leading to $0.001711.
A recovery would require renewed buying interest and improved market conditions, with reclaiming $0.002123 as support being an early stabilization signal, potentially leading toward $0.002428.
(Source：BeInCrypto)