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PUMP Price Breaks Out After Buyback Boost: Another 100% Surge Next?

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TL;DR

  • PUMP challenges $0.0027 after retesting a demand zone, signaling bullish momentum with rising volume.
  • On-chain data shows 100% of Pump.fun’s revenue is redirected toward daily token buybacks.
  • Airdrop delay caused a 20% crash, but recent recovery revives trader interest in the PUMP token.

Pump.fun Token Breaks Out After Retesting Key Zone

PUMP has moved off a key demand area around $0.0025 and now trades above $0.0026. According to chart data shared by CryptoBull_360, the token has broken out of a downward channel that had held since mid-July.

Notably, the descending structure brought lower highs and lower lows for over 10 days. That changed when the price found support near $0.0025, a zone that lines up with a high-volume node on the volume profile. This level has seen strong buying interest before, and once again, buyers stepped in.

Volume increased as the asset moved toward $0.0027. The breakout also crossed the Point of Control (PoC), a level where the most trading occurred during the recent downtrend. The next area of interest sits near $0.0054, based on previous trading ranges.

On-Chain Data Shows 100% Revenue Used for Buybacks

On-chain data shows that Pump.fun has increased buybacks to 100% of daily revenue over the past two days. This is a sharp rise from the previous 25% rate, though no formal statement has been issued by the team. The changes can be seen in on-chain transaction records, pointing to increased activity from the platform’s treasury.

Daily earnings for Pump.fun fell below $300,000 on Monday. This level of revenue has only been recorded two other times in the past year, both in September 2024. 

PUMP revenue
Source: DefiLlama

As of now, Pump.fun has earned more than $735 million in cumulative revenue. The uptick in buybacks may be tied to efforts to stabilize the token’s price after a sharp drop earlier this month.

PUMP Recovers After Airdrop Delay Sell-Off

Pump.fun (PUMP) was priced at $0.002647 at press time, with a 24-hour trading volume of $612 million. The token has gained over 10% in the past day, although it remains down nearly 29% over the past week.

Meanwhile, the recent breakout and buyback activity came shortly after a volatile period. On July 23, the project’s co-founder confirmed that the long-awaited airdrop would be delayed, which led to a 20% drop in the token’s value within 24 hours.

Launched in 2024, Pump.fun quickly rose to prominence in the meme coin space. It hosted a $500 million ICO earlier this month, which sold out in 12 minutes. However, some users were unable to complete their purchases, prompting Kraken to offer an airdrop to affected accounts.

Despite the recent rebound in price, the platform is still facing questions about sustainability in a highly competitive market. 

Pos PUMP Price Breaks Out After Buyback Boost: Another 100% Surge Next? muncul pertama kali di CryptoPotato.

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