The Pump.Fun (PUMP) token has plunged over 40% since its Initial Coin Offering (ICO), driven by significant sell-offs from top holders. A major investor offloaded 17 billion of their 25 billion PUMP holdings, exacerbating the price decline below its ICO level. Despite the downturn, exchange outflows totaling $2.16 million in the past 24 hours indicate potential accumulation, as suggested by CoinGlass data. Technical indicators present a mixed outlook. The Relative Strength Index (RSI) shows the token is oversold, hinting at a possible rebound. However, the Long/Short Ratio of 0.88 reveals a bearish market sentiment, with 53% of traders holding short positions. A bullish falling wedge pattern in technical analysis suggests potential upside if PUMP surpasses $0.0042.