PUMP Token Surges 15% as Pump.fun Reclaims Solana Memecoin Lead
PUMP increased by 15% on Monday, reaching $0.0004 and a market cap of $1.3 billion. This surge occurred as Pump.fun regained its status as Solana's largest memecoin launchpad, surpassing LetsBonk.
- Pump.fun captured 67% of meme coin launches, up from a low of 26% in July.
- Trading volumes reflected this shift: Pump.fun at $134 million compared to LetsBonk's $12 million.
- The Glass Full Foundation initiative aimed to support high-potential meme coins contributed to renewed interest.
In derivatives markets, trading volumes for PUMP futures rose 168.17% to $1.38 billion, indicating heightened speculative activity. Open interest increased by 17.81% to $510.63 million, with liquidations totaling $1.72 million, primarily from shorts.
PUMP Price Forecast
- A golden cross formed on the PUMPUSD 4-hour chart, suggesting potential for continued upward movement.
- Current resistance is near $0.0042, with support at $0.0033.
- A close above $0.0042 may lead to retesting $0.0048; below $0.00033 shifts focus to $0.0030.
Overall bullish sentiment persists, supported by speculative interest and favorable market conditions.