PUMP Rallies 10% After Pump.fun Acquires Trading Terminal Padre
Pump.fun Acquisition and Token Impact
- Pump.fun acquired the multichain trading terminal Padre to expand its ecosystem. This move triggered a 10% surge in the token, PUMP.
- Padre supports trading across Ethereum, Solana, BNB Chain, and Base.
- Significant user experience upgrades are expected, especially for tokens launched on Pump.fun.
PUMP Token Performance
- PUMP jumped 11.6% to a high of $0.0043 following the acquisition news.
- The token broke out of a bearish structure, suggesting a potential rise to the $0.005 mark.
Community Response
- Padre's users criticized Pump.fun as PADRE token will no longer have utility, causing its value to drop 76% before stabilizing.
- Critics argue that the decision neglected existing investors and proposed an airdrop for PADRE holders instead.
