PUMP’s pullback presents a buying opportunity at $0.00413 – Here’s why

Pump.fun's [PUMP] weekly fees have broken $12 million, and the 30-day cumulative fees have reached $60 million, a new all-time high for the memecoin launchpad on Solana. Yet, PUMP was down 5.19% in the past 24 hours and 19.7% over the past week. The token has followed the wider crypto trend after Bitcoin [BTC] was forced to pull back from $87k toward $81k. PUMP bears control the lower timeframe trends In the short term, the sentiment was strongly bearish. PUMP's Open Interest has declined nearly 10% in 24 hours alongside the price dip, and the Spot CVD has also been falling over the past week. The Funding Rates were also negative, showing that the majority of market participants believed in a bearish price trajectory in the short term.

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