Pump.fun loses KEY support as $5M liquidations raise PUMP’s downside risks
Photo: AMBCrypto
Pump.fun [PUMP] breached the $0.006 support and was trading around $0.0055, down 7.2% on the daily charts, at press time. Over the same period, the altcoin's trading volume dropped 20% to $427 million, reflecting a slowdown in market activity. PUMP's long liquidations exceed $5M Pump.fun's price drop pushed many bulls out of the market. CoinGlass data showed that $5.09 million worth of long positions were liquidated. Usually, higher long liquidations add selling pressure to an already falling market, causing further price declines. This can trigger a cascade of liquidations.
Source: AMBCrypto
