The PUMP token from Pump.fun has experienced a 12% decline this week, driven by reduced activity on decentralized exchanges (DEX) and $11.3 million in outflows. Despite this downturn, on-chain data reveals an increase in user count to 110,200 and $3.11 million in accumulation on centralized exchanges (CEX), indicating potential for a short-term rebound. CoinGlass data highlights liquidity clusters around $0.0046, a level historically associated with short-covering rallies. This suggests that while the token has faced recent pressure, there may be opportunities for recovery as traders position for potential gains.