A whale has opened a $6 million leveraged long position on Pump.fun [PUMP], reinforcing bullish conviction amid a price recovery, as reported by Lookonchain. The 10x leverage position involves 1.94 billion PUMP, with an unrealized profit of approximately $246,000. PUMP was up 8.51% in 24 hours, trading near $0.003017 at press time. The whale set a liquidation price of $0.002852, leaving the position exposed to a potential correction.
A trader opened a $6 million long position on Pump.fun using 10x leverage, according to Lookonchain. The position on 1.94 billion PUMP had already generated nearly $246,000 in unrealized profit.
PUMP rose 8.51% over 24 hours to trade near $0.003017 at press time. The whale’s liquidation price was set at $0.002852, meaning a breakdown to that level would put pressure on the bulls and make the bull market more uncertain.
Spot exchange flows provided additional support for the whale’s positioning. A $739,560 spot outflow was recorded, indicating more tokens left exchanges than entered them, which reduced immediately tradable supply and limited near-term selling pressure.
On the daily chart, PUMP maintained upward channel movement toward $0.003128 resistance. The price was far from the significant $0.002656 support level, with the Relative Strength Index at 67.66, near buying territory without crossing the marked 73.04 threshold.
Liquidation data added another bullish factor, per the CoinGlass Liquidation Heatmap. Significant liquidations were concentrated around $0.00300 and $0.003150, while liquidity at $0.002895 was relatively low. A renewed price advance could draw prices toward those upper concentrations.
