The PUMP Token fever turned from its peak to a sudden freeze in just 10 days. On July 22, the PUMP coin price officially fell below the public offering price of $0.004, currently reporting at $0.003758, with a nearly 24-hour decline of 15.5%.
Machi Big Brother Suffers Millions in Floating Losses on 5x Long Position
According to OnchainLens monitoring, Machi Big Brother's long position nominal value on PUMP has incurred floating losses of $3.86 million due to price decline; when including his ETH 25x and HYPE 5x long positions, the total floating loss reaches $6.16 million.
It's worth noting that according to Ember monitoring, Machi Big Brother's long positions on PUMP, ETH, and HYPE currently have a total position value of $126 million.
Three Major Factors Behind the Bearish Sentiment
Based on current market perspectives, three key bearish analyses for PUMP coin price can be drawn:
- First, massive early capital exit. Ainvest statistics show that about 60% of early buyers have sold or transferred their tokens, instantly accumulating selling pressure.
- Second, insider profit-taking. CCN News revealed that after launch, officials and supporters sold over $141 million in tokens, pocketing $39 million, a typical "pump and dump" pattern.
- Third, lack of utility support. CCN analysis points out that PUMP does not provide governance, staking, or fee sharing, only offering a buyback plan; with 40% of tokens allocated to the team and early investors, "concentration risk" becomes more apparent.
