PUMP fell 11% in 24 hours – How likely is it to fall further?

Amid the backdrop of whales’ massive sell-offs and negative financing rates, PUMP tokens plummeted 11% to $0.007, with shorts accounting for 52% of derivatives trading volume. A large long position of $18 million is facing liquidation risks as open interest contracts decreased by $20.59 million. Despite bearish sentiment, areas with lower liquidity may trigger a potential rebound if demand arises.