Trader Eugene: Has already "Cut Loss" PUMP, has been "Sideways" for too long without breaking through.

On July 22, trader Eugene Ng Ah Sio posted on his personal channel, stating, "Having been in a sideways movement for too long in the 0.004 range without a breakout to the upside, my trading logic has failed. I am cutting my position and leaving. Now is not the time to stubbornly hold onto this stagnant asset." BlockBeats previously reported that on July 19, trader Eugene mentioned that he recently bought some PUMP. Although he did not participate when the project launched due to the market heat at the time (considering the high attention it received), the recent wave of selling has instead piqued his interest. Considering the frenzy when the project launched, most investors' average entry price might be around $0.005 or higher. Now that the price has dropped to $0.004, almost everyone is in serious loss, especially when ETH has risen 30% in a week; holding an asset that has fallen 25% is indeed torturous—this has already triggered significant dumping behavior. $0.004 should be an important support level, as the subscription was severely oversubscribed when the ICO pricing was set (remember how many participants complained about not being able to get a quota), so his personal bet at the current price level is only temporary.