PUMP Price Eyes $0.0055 as $4.7M Long Takes Shape

A new Hyperliquid wallet has opened a $4.7 million $PUMP long. The trade is already sitting on more than $200,000 in unrealized profit, but the liquidation level leaves little room for complacency. $PUMP Price Rally Gives One Traders Room Wallet 0x434b reportedly deposited over $700,000 into Hyperliquid and opened a 6x long on 1.02 billion $PUMP tokens. The position was initiated near $0.004407, while the current price stands around $0.004536. That puts the trade in profit for now. The problem is the liquidation price near $0.003916. If $PUMP price fails to hold its recovery, the position could be closed at a substantial loss. On the other hand, a move above $0.005000 could give the trader more breathing room. A test of 0.005500 would push the position further into profit, assuming demand remains strong. Of course, leverage makes every move matter more. A modest rally can produce a sizable gain, while a sharp reversal can erase the entire position. $PUMP Onchain Activity Supports The Bullish Case $PUMP's recent onchain figures provide a stronger argument than one leveraged trade alone. Data from the Solana blockchain shows thst $PUMP has total value locked at approximately $339 million, while 30-day fees reached $147.9 million. Thirty-day revenue stands at $57.4 million. Those figures indicate substantial activity across the ecosystem, although they don't guarantee that the token price will continue rising. The latest move has also pushed $PUMP above its 20-day EMA band. That technical shift matters because the token had previously spent time struggling near major band levels. $PUMP Price Still Depends On Key Support The $0.001675-$0.001915 range has acted as an important demand area. It failed in June, sending $PUMP price below the zone and toward approximately $0.001200. That breakdown ultimately became a liquidity grab rather than the end of the trend. $PUMP later reversed sharply and climbed toward $0.005500 before a healthier pullback followed. Now the toke is attempting another recovery. If $PUMP price breaks above $0.005000, the next resistance could appear around $0.005000. A successful move beyond that level may open the way toward $0.007000. Still, rejection remains a real possibility. If price fails after testing $0.005000, the leveraged trader's liquidation level near $0.003916 becomes increasingly important. A deeper correction could expose support around $0.003402 and then $0.002554. For now, $PUMP price has improved onchain activity, a fresh leveraged bet and a recovery above the 20-day EMA. Whether that combination can sustain the rally toward $0.005500 remains the next test.