PUMP breakout stalls as smart money buys while retail demand collapses

Beincrypto reports PUMP's breakout attempt has weakened after Pump.fun surged earlier this week and then pulled back, introducing uncertainty about whether the rally can be sustained.

Smart money wallets added roughly 48 million tokens over the past week, increasing their holdings by 5.8%, a sign of accumulation by experienced participants. By contrast, new wallet creation fell from 8,570 to 2,201 over a 48-hour period, a 74% drop, which the report says signals fading retail interest and reduced inflows of fresh capital.

PUMP had broken out of a cup-and-saucer pattern that projected a 57% upside from $0.00264 to $0.00420, but the price failed to follow through. Holding $0.00264 would keep the bullish structure intact and a reclaim of $0.00278 as support could revive the breakout; if $0.00264 fails, the report warns the price could slide toward $0.00242 and, with further weakness, to $0.00212, invalidating the bullish thesis.

Key Topics

Crypto, Pump, Pump.fun, Smart Money, Whale Wallets, New Addresses