TL;DR

PUMP price breaks major support, traders now eye $0.0024 as the next likely target. Funds begin offloading tokens after the price dips below the private and public sale entry point. Bullish wedge pattern hints at a possible 50% rally if the asset reclaims the upper resistance zone.

Support Break Signals Deeper Slide

Pump.fun (PUMP) has dropped below a key support at $0.004035. This level had acted as a base over the past few sessions, with multiple attempts to hold. On July 22, the asset failed to stay above the zone, then attempted a brief recovery, but the rejection confirmed a bearish setup.

As of press time, PUMP was trading at $0.00371. That marks a decline of nearly 15% over the last 24 hours and more than 34% in the past week. Moreover, it has now fallen below its private and public sale price of $0.004.

Lookonchain data shows that two major funds, which bought in at that level, have already moved large portions of their holdings to exchanges. One sent 17 billion tokens, while the other has offloaded its entire 12.5 billion allocation.

The $PUMP price has dropped below its private/public sale price of $0.004.

PUMP Top Fund 1 spent 100M $USDC to buy 25B $PUMP at $0.004 in the private sale.

So far, he has deposited 17B $PUMP($89.5M) to exchanges via #FalconX and still hold 8B $PUMP($29.58M).

PUMP Top Fund… pic.twitter.com/xibWUaCOxz

Analyst CryptoPatel pointed to a likely move toward the $0.0024 level, which sits roughly 40% below current price levels and aligns with a previous demand area.

Bearish Pressure Builds, Bulls Wait

Notably, the recent breakdown mirrors a similar move from July 14–16, when the price fell by over 40%. The current pattern suggests that sellers remain in control. Unless PUMP reclaims the zone between $0.004035 and $0.004061, the trend remains tilted to the downside. This range now acts as resistance.

In contrast to the bearish scenario, another analyst, Captain Faibik, shared a different chart. Their view shows a bullish “PO3” pattern alongside a falling wedge on the 1-hour chart. These structures, when confirmed, often result in a move to the upside.

Source: X The chart outlines a shift from accumulation to manipulation, with the asset now hovering at the edge of a potential distribution zone. If the wedge breaks upward, the price could rally by as much as 50%, according to Faibik’s projection.

Kraken Airdrop and Token Loss Event

Pump.fun held a $500 million ICO on July 13, which sold out in 12 minutes. However, some users could not complete their purchases. Kraken confirmed it will airdrop PUMP tokens to affected accounts.

Separately, one user accidentally burned 10 million tokens worth around $75,000 through a wallet operation shortly after launch. Data shows the coins were removed either by a default tool or user error.