I should've done this earlier but I'm short $PUMP at $0.0038
- Token buybacks peaked at $1.5M in August and are down ~40%
- Increased competition from Fomo, Robinhood, and Stonk
- Their current workflow has basically just been "wait for innovation, then spend to catch up" and it hasn't been too effective.
Ex: People just prefer Fomo to the Pump App, and their attempts to take Stonk market share have largely been ineffective
Downside here is I get completely rekt shorting in a bull market (very possible)
Looking to exit at $0.0033, liquidation price $0.0043