Pump.fun Rally: 1.29B PUMP Withdrawn Amid Massive Buybacks

Pump.fun Rally: 1.29B PUMP Withdrawn Amid Massive Buybacks
Pump.fun Rally: 1.29B PUMP Withdrawn Amid Massive Buybacks

Key notes

  • A whale withdrew 1.29 billion PUMP worth $6.39 million from Binance.
  • Pump.fun completed over $150 million in repurchases, repurchasing approximately 10% of the supply.
  • PUMP is looking to break above $0.0052 as bullish momentum builds.

In the past 24 hours, the Pump.fun token (PUMP) has risen 10%, bringing its total weekly gain to nearly 30% and raising its market capitalization to $1.8 billion, placing it among the top 50 cryptocurrencies by valuation.

According to data shared by Onchain Lens, a large whale recently withdrew 1.29 billion PUMP tokens worth approximately $6.39 million from Binance.


The same wallet now contains 3.3 billion PUMP, worth $16.38 million, accumulated over the past two weeks.

Pump.fun’s Mega Buyback Strategy

The PUMP buyback strategy drives the rise of the altcoin. Numbers already It crossed the $150 million mark In just three months.

The exchange has bought back approximately 9.6% of the total token supply, making it one of the most supported assets on Solana.

Sol
$200.2



24-hour fluctuations:
0.3%


Market value:
$109.91 billion



Vol. 24 hours:
$6.21 billion

Ecosystem. This places it second only to radium

opinion
$1.86



24-hour fluctuations:
0.2%


Market value:
$496.40 million



Vol. 24 hours:
$28.47 million

whose lifetime buybacks exceed $200 million.

With over $818 million in cumulative revenue and daily profits With an average of approximately $1 millionthe platform reinvests its profits directly into the growth of the ecosystem, including the acquisition of Padre, a multi-chain trading terminal.

Market dominance and ecosystem expansion

Pump.fun has made several additions to its ecosystem recently, including the launch of PumpSwap, Pump Screener, and the acquisition of Padre. The platform currently accounts for almost all token graduations on Solana, and dominates the meme coin ecosystem.

Interestingly, the meme creator lost its dominance after briefly losing ground to Four.meme during the Binance Smart Chain meme boom.

With Padre now integrated, Pump.fun has regained the top spot in both revenue and user engagement.

Pump Price Analysis: Bullish breakout looms

The PUMP daily chart shows that the token is trying to break out of a bearish channel pattern. The price is currently trading near $0.00509, testing resistance around the upper channel boundary.

The RSI is reading 56.17, indicating neutral momentum while the MACD is showing increasing buyer strength.

Daily PUMP chart with RSI and MACD. | Source: Trading View

If PUMP closes above the $0.00520 resistance, it may confirm a breakout towards the next targets at $0.0060 and $0.0075. On the other hand, immediate support is located at $0.0041, followed by a stronger base near $0.0030.

Whale accumulation and continued buybacks could push PUMP towards the next major psychological resistance at $0.0080, making it the next big cryptocurrency in 2025.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.

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Parth Dubey

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the world of cryptocurrencies and finance, amassing industry experience having survived both bear and bull markets over the years. Barth is also the author of four self-published books.

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