PUMP Token Price Drop Liquidates $3.61M from Two Traders

A recent trader drop in the PUMP token resulted in a significant liquidation of funds, with a total of $3.61M liquidated from two traders on the Hyperliquid platform.

The liquidation occurred after the PUMP price dropped to $0.01, wiping out 707.6M tokens. The RSI (14) held neutral at 50.44, and the MACD death cross signaled a potential retracement to the EMA50 support level.

The analysis suggests that the current price action may be a healthy retracement before any continuation in the PUMP token's price movement or a broader crypto market crash.