Pump.fun Struggles Amid Heavy Token Sell-Off
The cryptocurrency market remains in a prolonged downtrend, and Pump.fun (PUMP) is no exception, with the token facing significant bearish pressure. Despite this, whales have been actively accumulating tokens, indicating a potential long-term opportunity for investors.
Team Wallet Transfers Spark Concern
According to data from Lookonchain, the Pump.fun team deposited $436.5 million USDC into Kraken since October 15, raising fears of heavy selling. Such a move often signals bearish sentiment, as investors anticipate further declines.
Furthermore, historical data supports this concern. Between May 2024 and August 2025, the team sold $757 million worth of SOL tokens during similar sell-offs, leaving individual investors wary.
Buyback Reduction Amplifies Bearish Sentiment
Artemis data reveals a 36.5% drop in token buybacks, with spending standing at just $886,000—well below the psychological $1 million mark. The reduced buyback activity diminishes institutional support, adding to PUMP’s downside risk.
Whales Step In Amid Price Declines
While the market shows signs of bearish momentum, whales continue to take advantage of falling prices. Coinalyze data shows that buyers dominated 4 out of the last 7 trading days, with a total buy volume of 39.23 billion recorded since November 20. According to Nansen, top holders increased their token holdings by 20 billion during this period, signaling strong confidence in Pump.fun’s long-term potential.
Technical Analysis and Key Levels to Watch
Pump.fun recently rejected resistance at $0.0048 and is trading within a descending channel after hitting a low of $0.0024. At the time of writing, PUMP trades at $0.0026, down 3.76% for the day and 21.3% for the week. The token also remains below key Exponential Moving Averages (EMA20, EMA50, EMA100, and EMA200), confirming considerable bearish momentum.
If the selling activity continues and whales are unable to absorb the supply, PUMP could slide further toward support at $0.0022. To trigger a recovery, buyers need to reclaim the $0.0030 level and push the price beyond EMA20 at $0.0033 to restore confidence.
Invest Responsibly
Cryptocurrency investments are inherently risky, and investors should exercise caution. If you’re looking for a secure way to track your crypto portfolio, consider products like Ledger Nano X, which provides private key security for your assets.
