PUMP has extended its bullish push by recording a 10% price surge over the past 24 hours. This price increase comes against the backdrop of high pump launches currently going on at Pump.fun, as well as increased usage of the platform and capital movement into meme coins.
There was also a considerable spike in the trading volume for the network, which rose by 8.89% to $179.28 million. The Altcoin Season Index is currently at 49, signaling a greater appetite for riskier assets within the crypto markets.
Source: SantimentNetwork activity adds fuel to the rally
The current price increase happens amidst an increasing launch activity on Pump.fun, which is driving up use of the platform as well as increasing demand within its ecosystem. The activity could further boost the momentum of PUMP should the flow of capital continue through the platform.
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The Holder Rewards program could provide another source of buying pressure by encouraging users to maintain exposure to the token. Since its enrollment back on the 12th of September, the network revenue has recorded significant gains.
According to recent data, both Pump.fun‘s holders’ revenue and active addresses have recorded significant spikes. In the last 24 hours alone, the network revenue shot to $761K while the number of active addresses rose to 86,000.
Source: DefiLlamaCan PUMP break above $0.005？
On the daily chart, PUMP is now approaching its $0.005 local swing high, making the level an important test for the ongoing recovery. The token is trading above all key EMAs, suggesting that the network buyers and holders are still in dominance.
A sustained move above this resistance could strengthen the bullish structure and open the way for further gains. However, failure to clear $0.005 could trigger profit-taking, particularly after the tokens 10% daily advance.
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As it stands, rising volume, stronger Pump.fun activity, and improving appetite for memecoins are supporting the current PUMPs recovery.
Source: TradingViewFinal Summary
- PUMP gains by 10% as rising Pump.fun activity and renewed memecoin rotation strengthen buying momentum.
- A breakout above $0.005 could extend PUMPs recovery, while rejection may trigger short-term profit-taking.