#数字资产市场动态 $PUMP has recently experienced a nearly 10% decline with increased volume. Combined with the high market holdings, this is a typical sign of long liquidation and main force distribution. From the price action, selling pressure has already become dominant, and there are no signs of buyers absorbing the sell-off.

The bearish logic is quite clear. The significant 166M trading volume, coupled with nearly 30 billion in open interest, signals that—there's no doubt—bearish momentum is very strong. $PUMP's decline is not a healthy correction but rather continuous selling absorbing positions and long positions being liquidated. In the short term, even if there is a rebound, buyer depth is severely lacking. As long as the price cannot re-establish above the 0.00285 level, the downside space remains open.

From a trading perspective: entry can be considered in the 0.00270 to 0.00275 range, with a stop-loss set at 0.00285 (this is a rigid stop-loss point). The first target is 0.00250, and the second target is 0.00230. The market structure is still in the destruction phase, and no strong signs of support have appeared.