A major cryptocurrency holder, often termed a “whale,” has withdrawn 853.5 million PUMP tokens worth approximately $1.6 million from exchanges Bybit and OKX. This brings the entity’s total holdings to 8.71 billion tokens valued at $16.4 million. Concurrently, on-chain data indicates a broader trend of exchange outflows, tightening available supply. The PUMP price is attempting a recovery after forming a double-bottom pattern, while data from Binance shows professional traders are heavily favoring long positions.
In a significant movement of assets, a large crypto entity withdrew 853.5 million PUMP from major trading platforms. This accumulation increased the whale’s total position to 8.71 billion tokens, representing a notable concentration of supply held privately.
Analysts note that such transfers reduce liquidity on exchanges and often signal accumulation intent. “Large withdrawals often reflect deliberate accumulation rather than immediate selling interest,” the activity suggests.
The move coincides with continued negative exchange netflows, with recent data showing approximately $476,890 leaving trading venues. This ongoing trend reduces immediate sell-side pressure and can increase price volatility in response to new demand.
On the price chart, PUMP found strong support near $0.00168, forming a double-bottom pattern that indicates a potential structural recovery. The token was trading around $0.001894, with key overhead resistance identified near $0.002371.
Technical indicators show the Relative Strength Index (RSI) reading 44.88, having turned upward from lower levels. Market participants interpret this as a sign of gradually improving buying interest and weakening selling pressure.
Sentiment among top traders is decisively bullish, as positioning data reveals a 2.37 Long-to-Short Ratio. This means 70.3% of major positions on the exchange are betting on the price to rise.
