- PUMP gains 7.4% in 24 hours amid bullish sentiment.
- Weekly surge of 31.79% highlights strong market confidence.
- Whale accumulation of $14 million boosts investor optimism.
- Technical indicators suggest a possible continuation toward $0.0064.
Pump.fun (PUMP) continues its positive momentum, marking a steady rise in market value. The token recorded a 7.4% gain in the past 24 hours, reflecting growing investor interest. Over the past week, PUMP has shown strong performance, with a 31.79% increase, signaling sustained bullish sentiment among traders.
At the time of writing, Pump.fun is priced at $0.005063, supported by a 24-hour trading volume of $467.74 million, up by 29.72% in the same period. The market capitalization has climbed to $1.79 billion, representing a 7.37% increase, highlighting expanding market participation and continued momentum across the trading landscape.
Also Read: PUMP Price Soars 6.6% as Bulls Target $0.0076 Resistance Zone
Whale Accumulation Highlights Market Confidence
In the last 24 hours, four whales have collectively accumulated 2.74 billion PUMP tokens valued at nearly $14 million. Whale GfcyaW made a major move by withdrawing 1.29 billion PUMP worth $6.4 million from OKX just three hours ago and now holds 3.31 billion PUMP valued at $16.6 million.
Additionally, a fresh wallet (2dv7bX) received 513.92 million PUMP worth $2.48 million from Wintermute around eight hours ago. Meanwhile, wallet 46bvxt withdrew 468.95 million PUMP valued at $2.33 million from Binance, and wallet GryEgo pulled 466.9 million PUMP, also worth $2.33 million, from Bybit within the past three hours.
Technical Analysis Shows Pump.fun Gaining Momentum
According to crypto analyst @GonzoXBT, the 4-hour chart of Pump.fun indicates that it has made a recovery from the long-term decline. The current value of $0.005041 shows that it is above the 200 EMA at $0.004685. This makes it clear that it has strong buying momentum. The first level of resistance at $0.005046 stands at a testing position.
If the price successfully breaks above $0.00505, the next upside target would be around $0.006417. Momentum has seen an improvement as higher lows have been observed. The current level of $0.00505 is a very important area for the price to break above as traders look to gain entries for new long positions.
On the downside, a rejection at these levels may propel a correction towards the $0.004685 or towards the strong support at $0.004319. Breaking below these levels will thus nullify the bullish analysis and put pressure on the downturn once again. Closures on the 4-hour chart levels will determine the trend.
Also Read: Pump.fun (PUMP) Rallies as Major Buybacks Push Target to $0.0075
