PUMP Price Crashes 23%; Are Big Sellers Just Getting Started?
The post PUMP Price Crashes 23%; Are Big Sellers Just Getting Started? appeared on BitcoinEthereumNews.com. Pump.fun’s native token, PUMP, is showing signs of exhaustion after a dramatic breakout. The token soared to a local high of $0.006899 on July 16, riding Solana’s meme coin wave and renewed market attention. But within hours, the PUMP price collapsed to a low of $0.005294, marking a sharp 23.2% drop. The steep correction comes amid heavy profit-taking by early holders, and signs suggest further downside pressure unless key levels are reclaimed. Smart Money Starts Dumping as Realized Profits Surge The latest on-chain data reveals an aggressive round of profit-taking by top holders. According to PnL data, the top 10 wallets alone realized over $17 million in profits, with the leaderboard showing traders cashing out completely. Wallet CxSZ84Ui booked $1.79 million, while eight others followed with $1.5 million or more in realized gains. Notably, over 95% of top wallets are now holding 0% of their initial positions, signaling total exits. PUMP price and aggressive profit booking: Nansen Meanwhile, smart money wallets, wallets tagged for high win rates, have seen a 34.5% drop in holdings, now sitting at 3.17 billion tokens, down from over 4.3 billion earlier in the day. The balance for PUMP whale wallets also slipped by 3.63%, suggesting that large players aren’t just watching; they’re actively selling. That means the PUMP buyback simply hasn’t outweighed sustained sell pressure. Fees spent on repurchases are being canceled out or even surpassed by profit-taking from whales unloading huge stakes. PUMP holders and their 24-hour moves: Nansen On the flip side, the unrealized PUMP profit leaderboard reveals a dangerous setup: wallets still holding nearly $10 million in paper gains. For instance, wallet 9mKy1K8S shows $1.38 million in unrealized profit with 100% still held, indicating that these traders could become the next wave of sellers if the price weakens further. Or they might…
The post PUMP Price Crashes 23%; Are Big Sellers Just Getting Started? appeared on BitcoinEthereumNews.com.
Pump.fun’s native token, PUMP, is showing signs of exhaustion after a dramatic breakout. The token soared to a local high of $0.006899 on July 16, riding Solana’s meme coin wave and renewed market attention. But within hours, the PUMP price collapsed to a low of $0.005294, marking a sharp 23.2% drop. The steep correction comes amid heavy profit-taking by early holders, and signs suggest further downside pressure unless key levels are reclaimed. Smart Money Starts Dumping as Realized Profits Surge The latest on-chain data reveals an aggressive round of profit-taking by top holders. According to PnL data, the top 10 wallets alone realized over $17 million in profits, with the leaderboard showing traders cashing out completely. Wallet CxSZ84Ui booked $1.79 million, while eight others followed with $1.5 million or more in realized gains. Notably, over 95% of top wallets are now holding 0% of their initial positions, signaling total exits. PUMP price and aggressive profit booking: Nansen Meanwhile, smart money wallets, wallets tagged for high win rates, have seen a 34.5% drop in holdings, now sitting at 3.17 billion tokens, down from over 4.3 billion earlier in the day. The balance for PUMP whale wallets also slipped by 3.63%, suggesting that large players aren’t just watching; they’re actively selling. That means the PUMP buyback simply hasn’t outweighed sustained sell pressure. Fees spent on repurchases are being canceled out or even surpassed by profit-taking from whales unloading huge stakes. PUMP holders and their 24-hour moves: Nansen On the flip side, the unrealized PUMP profit leaderboard reveals a dangerous setup: wallets still holding nearly $10 million in paper gains. For instance, wallet 9mKy1K8S shows $1.38 million in unrealized profit with 100% still held, indicating that these traders could become the next wave of sellers if the price weakens further. Or they might…
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