Pump.fun Token Price Slides 10.2% as Long Liquidations Outpace Shorts

PUMP, the native token of the Solana-based memecoin launchpad Pump.fun, declined 10.2% over 24 hours to $0.003627 as of November 7 at 16:36 UTC. The move left the token with a market capitalization of $1.665 billion, according to data from CoinGecko.

The token traded between $0.003572 and $0.00408 during that period, while trading volume reached $102.561 million. Its outstanding token value stood at $2.118 billion, and its fully diluted valuation was $2.988 billion. Total value locked was $308.524 million, while perpetual futures open interest totaled $298.04 million.

The 24-hour price chart showed a downward trend, with PUMP moving from near the upper end of its trading range toward the session low. Circulating supply was reported at 459.013 billion tokens, with outstanding supply at 583.888 billion and total supply at 823.9 billion.

Over the past seven days, the token traded between $0.003572 and $0.004542. Its current price was 58.8% below its all-time high of $0.008819 and 214.4% above its all-time low of $0.001155.

Longs dominated liquidation activity

According to CoinGlass Liquidation data, PUMP recorded $3.23 million in liquidations over 24 hours as of November 7 at 16:36 UTC, with long positions accounting for nearly all of the total.

In the most recent one-hour window, total liquidations reached $929.45K. Long positions accounted for $926.67K, while short positions accounted for $2.78K. Over four hours, liquidations totaled $2.56 million, almost entirely from long positions.

The 12-hour figure stood at $2.99 million, including $2.98 million in long liquidations. Over the full 24-hour period, liquidations amounted to $3.23 million, with $3.22 million attributed to long positions and $7.97K to shorts.

Spot flows and technical readings

CoinGlass spot inflow and outflow data for the one-day window indicated net outflows. A reading near 16:36 UTC on November 7 showed a net flow of negative $5.07 million, alongside a price of $0.003622. 

The broader chart of net flows displayed a mix of positive and negative bars across recent months, with the price line tracking lower in the latest sessions.

Technical indicators on the one-day timeframe also pointed to selling pressure, as per TradingView data (on November 7 at 16:36 UTC). Oscillators showed two sell readings, nine neutral readings, and no buy signals. The overall technical summary registered 13 sell signals, 10 neutral readings, and two buy signals. Moving averages showed a strong sell indication, with 11 sell, one neutral, and two buy readings.

Pump.fun expands trading activity

The decline came weeks after Pump.fun expanded its trading offerings. On October 28, the platform announced the launch of perpetual futures trading through its app via an integration with Hyperliquid. 

The integration allowed users to open long or short positions on cryptocurrencies, stocks, and commodities using Hyperliquid’s on-chain perps engine. Users could fund positions directly from USDC balances held in their Pump.fun wallets without bridging assets. The integration also provided access to more than 300 Hyperliquid markets.

Trading operated on isolated margin, with users able to set take-profit and stop-loss orders. Maximum leverage was listed at 40x for Bitcoin, 25x for Ethereum, 20x for certain individual stocks, and 50x for the S&P 500. Fees were set at 0.05% per trade, or 0.04% when using a referral code, in addition to Hyperliquid’s standard fees.

All cryptocurrency-related data is sourced from CoinGecko, while liquidation data is sourced from CoinGlass (as of 16:36 UTC on November 7).

Also Read: XRP Price Today: Long Traders Lose $21.8M as Token Falls 9.4% to $1.18