Key Takeaways
- Pump.fun regains market hype as its volume gains over 450% in the last seven days of trading.
- Whale and community activities have seen a strong increase as prices eye a continuous rally.
- A breakout above the psychological resistance of $0.004 could see a more bullish price.
The Solana-based memecoin launchpad, Pump.Fun is having the best time of its life following rumors from the previous week that investors and traders are leaving its ecosystem for its rival Solana memecoin launchpad, LetsBonk.
On-chain activities are looking good for Pump.Fun. The announcement of its 100% buyback policy has had a significant impact on the price of its native token PUMP, which has gone from a market low of $0.0024 to a high of $0.0038, as the price nears its previous public sales.
Building on the momentum of current price action, crypto traders and experts believe that the death of Pump.Fun was a necessary spark for price to start its historical rally as PUMP token tops the crypto memecoin market in the last seven days.
Community and Whale Activities Fuel Rally
The news of no crypto airdrop plans by the PUMP team was a negative fundamental received by the Pump.Fun community and crypto investors led to the market crash of its native token in the previous weeks.
However, this is taking a new turn in the last few days as the price of the Pump.Fun token trades with over 450% volume rise above all Solana-based memecoins, as the price could reclaim its price above its public sale price of $0.004.
If the price of PUMP token reclaims its price above $0.004, it will act as a psychological resistance for the price. Pump.Fun token could see price fly to new all-time highs in the region of $0.1, which could be seen as unimaginable following much backlash from crypto Twitter.
Additionally, comparing current market actions, sentiments, and technical indicators of the PUMP token, the price looks strong on a higher timeframe for the first time in weeks, as the price could continue its strong rally following experts’ predictions.
PUMP Technical Analysis
Source – Pump.Fun Price Chart CoinMarketCap
PUMP token has boosted an impressive 25% gain in the last few days as price trades above $0.00375, just shy of its public listing price of $0.004 following its price crash.
The price chart for the Solana memecoin shows bullish price dominance as the price is looking to break to the upside. Crypto traders and experts believe the price has the strength to stage a comeback, leaving many in disbelief.
If the price of PUMP token and volume continue in this fashion, we could see more market participation and price being driven to the upside for the famous Solana memecoin.
In summary, Pump.Fun token looks bullish as price continues to rally to the upside, gaining over 450% volume accumulation ahead of other Solana memecoins.
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