PUMP Eyes 29% Rally on Whale Accumulation & $12M Buybacks
PUMP price has rallied over 40% in a week, driven by Pump.fun’s $30.65 million token buybacks and additional $12.2 million purchases that trimmed circulating supply. Whale wallets added over 2.3% to their holdings, lifting accumulation from 21.95 billion to 22.53 billion PUMP tokens. The launch of Project Ascend and a brief top revenue rank above Hyperliquid also fueled demand. Technically, PUMP broke out of a multi-week range and now trades within an ascending channel. It closed above the upper Bollinger Band, and a 50-day/200-day SMA golden cross confirms bullish momentum. Immediate resistance stands at $0.0046, with a key hurdle at the $0.0050 psychological level. A decisive break could open a 29% run to $0.0058 based on the 161.8% Fibonacci extension. RSI at 67.7 suggests strong buying pressure. Open interest jumped over 18% to $576 million, and positive funding rates confirm a long-biased market. Traders should monitor buyback updates, whale accumulation, technical breakouts, and funding shifts for potential entries and spot key support at $0.0042.
Bullish
PUMP’s combination of large-scale buybacks and increased whale accumulation has tightened its circulating supply and driven price momentum. The technical breakout from a multi-week range, ascending channel formation, and 50/200 SMA golden cross signal sustained bullish momentum. Positive on-chain indicators—rising open interest, outflows reducing exchange supply, and positive funding rates—underscore strong long-biased sentiment. In the short term, these factors could fuel further gains toward resistance levels at $0.0046 and $0.0050, while a break above $0.0050 may trigger a 29% rally to $0.0058. Over the long term, continued buybacks and whale support may reinforce PUMP’s underlying demand, though traders should watch the $0.0042 support and any shifts in funding or leverage for potential pullbacks.