PUMP fell 16% in the past 24 hours following a massive on-chain sell-off by a single address. The wallet liquidated 1.26 billion PUMP tokens in one transaction seven hours ago, receiving 5.48 million USDC at an execution price of $0.0043 per token. The seller incurred significant slippage by executing the entire position in a single trade rather than splitting it across multiple transactions. The 5% slippage cost approximately $300,000, as the address received $5.48 million instead of the potential $5.78 million achievable through smaller orders.