PUMP is undergoing a corrective phase after reaching a recent all-time high, with on-chain data showing a significant drop in network growth to a three-month low. This decline suggests a reduction in new investor participation. Additionally, the Chaikin Money Flow (CMF) indicator is trending downward, indicating capital outflows and increasing selling pressure. Currently trading at $0.0058, PUMP hovers just above a critical support level of $0.0056. A breach below this support could lead to further declines, with the next major support at $0.0047. Conversely, a successful rebound from $0.0056 could trigger a rally towards $0.0077.