A whale holding a large amount of Pump.fun (PUMP) tokens transferred 3.8 billion tokens worth $7.57 million to FalconX after holding them for three months, incurring significant losses compared to its initial investment of $19.53 million. This transfer occurred near a low point of approximately $0.00183, indicating a capitulation-style sell-off in the market, likely signaling an impending distribution phase that could exacerbate supply pressure. Technically, PUMP remains below the descending trend line, with the MACD indicator showing it is persistently under bearish control below $0.00210. Derivatives data shows open interest has decreased by 9.24% to around $153.8 million, reflecting deleveraging and weakened speculative demand. Recently, about $2.7 million in long positions were liquidated, further intensifying downward pressure, and the token may face a test of the support level at $0.000426 before any potential rebound.
