Pump.fun Rally: PUMP Token Surges 10%, Market Cap Hits $1.8B
Pump.fun Token Surge
- Pump.fun (PUMP) token increased by 10% in the last 24 hours, with a weekly gain of nearly 30%.
- Market cap reached $1.8 billion, entering the top 50 cryptocurrencies by valuation.
- A major whale withdrew 1.29 billion PUMP tokens from Binance, valued at approximately $6.39 million.
- The whale now holds 3.3 billion PUMP tokens, worth $16.38 million.
Buyback Strategy and Ecosystem Growth
- PUMP's buyback strategy surpassed $150 million in three months, acquiring roughly 9.6% of its total supply.
- Platform revenue exceeded $818 million, with daily earnings near $1 million.
- Recent ecosystem expansions include PumpSwap, Pump Screener, and the acquisition of Padre.
- Pump.fun dominates Solana's token graduations, especially after integrating Padre.
PUMP Price Analysis
- PUMP is attempting a breakout from a descending channel pattern, trading near $0.00509.
- RSI is at 56.17, indicating neutral momentum; MACD shows increasing buyer strength.
- If PUMP closes above $0.00520 resistance, targets could be $0.0060 and $0.0075.
- Support levels are at $0.0041 and $0.0030.
- Whale accumulation and ongoing buybacks may push PUMP to $0.0080.
