Trader Eugene: PUMP has shown obvious dumping behavior, has bought some Spot and believes it will rebound to the 0.006-0.007 USD range.

BlockBeats news, on July 19, trader Eugene Ng Ah Sio posted on his personal channel that he recently bought some PUMP. Although the market enthusiasm at the start of the project prevented him from participating at the time (considering the high attention it received), the recent wave of dumping has instead piqued his interest. Considering the frenzy when the project launched, the average entrance price for most investors might be around $0.005 or higher. Now that the price has fallen to $0.004, almost everyone is in serious loss, especially when ETH has risen 30% in a week, holding an asset that has dropped 25% is indeed agonizing—this has triggered obvious dumping behavior. $0.004 should be an important support level, as the subscription was severely oversubscribed at the time of the ICO (remember how many participants complained about not being able to get a quota), so his personal bet at the current price level is only temporary. In addition, there are several potential favourable factors: · Alon may return and bring substantial benefits to holders (current market expectation is that he will only maximize cashing out) · The platform is expected to regain market share from BonkFun Based on these factors, Eugene believes the price may rebound to the range of $0.006-0.007.