Pump.fun sold another 47,994 SOL (approximately $5.83 million), raising its cumulative sales to 5.24 million SOL (roughly $848 million). This persistent selling adds supply pressure as Solana’s price struggles to extend a recovery. Meanwhile, the token recorded $5.14 million in spot net outflows after three consecutive days of inflows. Technically, SOL was rejected at the $122.70 resistance, and the RSI reversed from 70, indicating fading buying strength. The token remains above the $110.13 support level, but the market is balancing Pump.fun’s supply against institutional demand.
Pump.fun’s latest sale of 47,994 SOL introduced renewed supply pressure on the market. According to data from Lookonchain, the platform’s cumulative sales have now reached 5.24 million SOL, valued at approximately $848 million.
The exchange recorded $5.14 million in spot net outflows, reversing three consecutive days of inflows. Despite this shift, one session of outflows does not yet establish a sustained withdrawal trend.
Solana’s price advance was rejected at the $122.70 zone, leaving the token trading around $120.64. The RSI indicator approached 70 during the impulse move but reversed to 67 alongside the price correction, suggesting buying strength faded near resistance.
SOL remains above the $110.13 support, preserving a crucial level beneath the prevailing structure. Buyers must overcome selling pressure around the current area to break above $122.70. Inability to regain control could expose the $110.13 support if the current rejection deepens.
