PUMP Price on Edge: Whale Dumps 2.90 Billion Tokens Amid Unlock

Quick Take

• Amid ongoing market uncertainty, three whale wallets together dumped a massive 2.90 billion PUMP tokens worth $12.58 million.
• This massive dump comes after the project unlocked 6.87 billion PUMP tokens worth $40.10 million, equivalent to 0.69% of the total supply.
• For PUMP, this has not been a good week, as the token was spotted on the top losers list with a 20% weekly downside move.
• Despite the negative outlook, PUMP appears to be giving Hyperliquid tough competition in terms of revenue, and it recorded a 2.9% upside in the last 24 hours.

Bearish pressure on Pump.fun (PUMP), a cryptocurrency launchpad, is mounting, raising concerns about further downside. According to a report from a crypto transaction tracker, whales have recently dumped billions of tokens following the unlocking of billions of tokens by the project, as reported by an on-chain platform.

Whales Dump 2.90 Billion PUMP

Recently, Lookonchain revealed that three crypto wallets had collectively dumped a massive 2.90 billion PUMP tokens for $12.58 million in USDC. This selloff occurred after the project unlocked 6.87 billion PUMP tokens worth $40.10 million on October 14, 2026, according to CryptoRank.

For PUMP, it’s not been a good month, as it declined over 20% and was spotted on the top loser list. Today, Friday, the asset bled another 4.60%, plunging to $0.004324. Alongside the price, PUMP’s trading volume also declined by over 51% to $368.61 million, indicating fear among market participants.

This decline in trading volume suggests weaker selling pressure and hints that the price fall may lack strong momentum.

Given the current market sentiment, the question that arises is whether the PUMP price will continue to decline or a potential price recovery is on the horizon.

PUMP Price Chart Hints Another 10% Fall Ahead

Looking at TradingView’s daily chart, PUMP appears to be forming its third consecutive red candle, while the short-term bias suggests more pain ahead. The daily chart shows that on October 12, 2026, the asset broke below the key support level of $0.005174, which had held since September 29, 2026. Since then, the price has continued to decline.

Based on the price action, the next support level is near $0.003830, around 10% below the current price. This suggests that PUMP could fall another 10% in the coming days. However, market sentiment could shift if the price reaches $0.003830, as this support level held on September 20 and 24, 2026.

At present, PUMP’s CMF (Chaikin Money Flow) has turned negative and reads -0.02, indicating selling pressure that supports the asset’s bearish outlook. Meanwhile, the ADX (Average Directional Index) stands at 26.27, above the key threshold of 25, indicating a stronger trend and suggesting that the ongoing decline is likely to continue in the coming days.

PUMP: Traders’ Negative Bias

The derivatives market also supports the bearish outlook. According to CoinGlass, PUMP’s long/short ratio has fallen below 1 and currently stands at 0.99, indicating bearish sentiment among traders.

Adding to the bearish bias, the exchange liquidation map reveals that $0.00422 and $0.00461 are two key levels where traders appear to be overleveraged. In fact, traders have built $1.22 million worth of long positions and $6.31 million worth of short positions.

These derivative data suggest bears' dominance on the asset, while bulls appear to be exhausted.

Pump.Fun’s Growing Revenue

Despite all this negative data, the only factor that supports a bullish bias appears to be its growing revenue. With the growing revenue, Pump.fun seems to be giving tough competition to Hyperliquid.

According to DeFiLlama, Pump.fun generated total monthly revenue of $67.59 million, compared with Hyperliquid's $71.37 million over the same period, indicating that Pump.fun is closing the revenue gap with the leading DeFi platform.