Picked up some $PUMP recently. Although the launch dynamics didn’t have me participating given how scrutinized it was, this latest bout of capitulation has peaked my interest.

Majority of investors have an average entry of probably 0.005 or higher, given how much fomo was present at launch. At 0.004, almost everyone is hurting real bad and a noticeable amount of capitulation has occurred especially given how painful it is to sit in something down 25% as ETH moves up 30% in a week.

0.004 should be a material form of support given ICO pricing that was massively oversubscribed (recall how many complaints there were from participants not being able to enter the ICO?), so I’m betting that this price level is temporary.

There are also a number of outs we have that include:

1. Alon returning and actually doing something good for tokenholders (rn expectations is that he’s just max extracting)

2. PF regaining marketshare vs BonkFun

Given this dynamic, think it presents a swing back to 0.006-0.007 region.