The latest new wallet on Hyperliquid recently placed a trade of over six times the amount of PUMP, totaling approximately 4.7 million US dollars, at an entry price of around 0.004407 US dollars. Based on the prices mentioned in the text, this position has already generated a profit of over 200,000 US dollars. However, due to the high leverage, the liquidation price is not far from the current price, so the market remains vigilant regarding any subsequent fluctuations.
New positions continue to bet on upward movement
The report mentioned that after depositing over $700,000 to the address 0x434b into Hyperliquid, the account purchased approximately 1.02 billion PUMP and established a six-fold leveraged long position. Calculated at the price of around $0.004536 at that time, this transaction is currently in a profitable state.
However, the liquidation price for this position is around $0.003916. Once the price falls below this range, the position may be forcibly closed. For high-leverage trading, even small price fluctuations can significantly magnify profits and losses.
On-chain data remains active.
In addition to a single large position, the on-chain data of PUMP is also considered one of the factors supporting market sentiment. According to the on-chain data of Solana cited in the text, the current total locked-up value of PUMP is approximately 339 million US dollars, with transaction fees totaling 147.9 million US dollars over the past 30 days, and revenue amounting to 57.4 million US dollars.
- Total locked-up value is approximately $339 million.
- Handling fees in the past 30 days amounted to approximately 147.9 million US dollars.
- Income of approximately $57.4 million in the past 30 days
These data indicate that the relevant ecosystem remains quite active in recent times. Although high activity on the chain does not necessarily lead to continued price increases, it at least shows that market trading and usage demand have not significantly weakened.
$0.005 becomes a key short-term level
From a price structure perspective, the vicinity of $0.005 is considered the current main resistance level. If the price can effectively hold above this level, it may test the $0.0055 region again; if there is a breakthrough and the upward trend continues, the target could be $0.007.
However, if the attempt to push up fails, the market will once again focus on the support levels below. The article mentions that if the decline deepens, areas around $0.003402 and $0.002554 may become subsequent support zones. For this leveraged long position, the liquidation level around $0.003916 is particularly crucial.
Overall, PUMP currently has three supports: active participation on the chain, capital betting, and a technical rebound. However, whether it can continue to rise above $0.0055 still depends on whether the price can first break through $0.005 and remain stable there.
