Coinspeaker
11 hour ago
1 0

PUMP Whale Exits with $12M Loss Amid Price Lows

A large holder of PUMP closed a three-month position with significant losses. Key details include:

  • 3.8 billion PUMP tokens, worth $7.57 million, were deposited into FalconX on December 23.
  • The same wallet initially withdrew these tokens from Binance for $19.53 million, resulting in a loss of $12.22 million.
  • The transaction appears to be a complete exit by the holder.

PUMP Price Analysis

  • PUMP is trading near $0.0018-$0.0019, hovering above a long-term support band.
  • The price has been trapped in a falling channel with lower highs and consistent sell pressure.
  • Indicators like RSI and MACD suggest seller dominance.
  • If PUMP breaks below $0.0018, it could retrace to the $0.0015-$0.0014 zone.
  • A break above $0.0027 would indicate a potential bullish shift.

PUMP price | Source: TradingView

The whale's exit increases supply but removes a major seller from the market, potentially impacting price dynamics.