Pump.fun's weekly fees have surpassed $12 million, with cumulative 30-day fees reaching $60 million—a new all-time high for the Solana-based memecoin launchpad. However, the PUMP token has faced near-term selling pressure, declining 5.19% over the past 24 hours and 19.7% over the past week amid broader crypto market weakness.
Bitcoin's pullback from $87,000 toward $81,000 has contributed to the wider decline. PUMP's Open Interest fell nearly 10% in 24 hours alongside the price drop, while Spot CVD metrics have declined over the past week. Funding Rates turned negative, indicating that a majority of market participants held bearish positions in the short term across both spot and perpetuals markets.
Technical Indicators Show Mixed Signals
While short-term sentiment remains bearish, the price action represents a pullback within a longer-term uptrend. The Chaikin Money Flow indicator, which had shown strong capital inflows when PUMP traded near $0.0068, has since moved into neutral territory as the correction deepened. The MACD indicator approached a bearish crossover with the zero line, suggesting a potential momentum shift.
Despite these bearish signals, the 1-day price structure maintains a bullish formation. The 78.6% Fibonacci retracement level sits at $0.00413, a zone where technical traders anticipate potential support.
Liquidity Dynamics
Analysis of 1-month liquidation data reveals a concentrated cluster of long liquidations near $0.0042, just above the 78.6% retracement level. This liquidity zone may attract additional selling pressure before any recovery emerges, presenting a potential entry point for swing traders following a liquidation sweep.
