PUMP dropped 12.5% as the Pump.fun app disappeared from US and Indian iOS stores. Broken trendline and weak RSI point toward further downside unless buyers reclaim key resistance. New token p
Pump.fun — PUMP, has taken a sharp hit as selling pressure sweeps across the market. The token dropped 12.5% within 24 hours, reaching $0.004002. Meanwhile, Pump.fun's mobile app disappeared from US and Indian iOS stores. The team called the removal temporary and expects a return soon. However, the timing adds pressure to an already weakening chart. Traders now face a crucial test as PUMP approaches key support levels and bearish momentum strengthens.
https://twitter.com/MrBullish/status/2098265361334587402PUMP traded between $0.003977 and $0.004821 during the latest 24-hour period. The token now carries a market capitalization near $1.659 billion. Trading volume reached $389.33 million across major cryptocurrency markets. Binance recorded substantial activity around PUMP during the period. OKX and Hyperliquid also handled significant trading volumes. Such heavy turnover shows strong participation during the latest price decline.
Liquidations have added another layer of pressure around the token. CoinGlass recorded $5.42 million in PUMP-related liquidations over 24 hours. Long positions accounted for $4.20 million of the total amount. Short positions contributed another $1.22 million in liquidations. Long traders suffered most of the damage during the sharp decline. Around $3.89 million in long liquidations occurred within 12 hours.
The chart now shows a clear change in short-term market structure. PUMP had climbed inside an ascending channel for more than one week. Sellers eventually pushed price beneath the channel's lower boundary. That breakdown weakened the bullish setup that previously supported higher prices. RSI has also fallen to 40.60 on the four-hour chart. The indicator remains below the 52.80 moving average.
Pump.fun has continued expanding the platform despite the recent price weakness. The company launched 20 new token pairs during the current week. Users can now create tokens against stocks, metals, and major cryptocurrencies. The new pairs also introduce a token-based value capture mechanism. Pump.fun plans to direct half the generated revenue toward PUMP buybacks.
That strategy could reduce available supply over time. Stronger platform activity could therefore create additional demand for PUMP. However, traders still need confirmation through price and volume. The iOS app removal remains another major uncertainty. Pump.fun confirmed removal from US and Indian Apple stores. The team described the situation as temporary and expects a return.
No specific reason has emerged for the removal so far. That uncertainty could keep traders cautious during the coming sessions. Market participants may also watch for updates from Pump.fun. Despite the decline, Pump.fun remains a major Solana-based token launch platform. The project launched in 2024 and quickly gained widespread usage. PUMP currently ranks around 52nd among crypto assets by market capitalization.
