Pump.fun surges following rising revenue and social push
- PUMP rose close to $0.00220, pushing its monthly gains into the 50% range.
- The rally follows an increase in Pump.fun's weekly revenue, which has surpassed Hyperliquid's.
- PUMP sees rejection near $0.00220 resistance.
PUMP, the native crypto of token launchpad Pump.fun, saw double-digit gains on Monday, rising to nearly $0.00220, its highest level in about 11 weeks, before easing.
The recent gains have stretched its 14- and 30-day performance above 38% and 50%, respectively.
The gains follow an outperformance in revenue. Pump.fun reported that its seven-day revenue reached $7.56 million over the past week, a 30% WoW growth and eclipsing that of decentralized perpetual exchange Hyperliquid.
The report also stated that the Pump.fun team bought back and burned $3.73 million in PUMP tokens during the period as part of its "commitment to programmatically buy back and burn 50% of revenue."
The token faced backlash earlier in the month after unlocking 57.279 billion PUMP tokens, representing 5.27% of its total supply. However, it has absorbed that supply pressure as it reported that 84.5% of the recently unlocked tokens have never left their recipients' wallets, with on-chain DEX sales remaining under 4%.
It's important to note that a continued price rise could push investors to partly book profits. Additionally, the token unlocks are not a one-time event; more unlocks are expected over the coming months, but at a lower supply rate.
Memecoin trader Ansem has also appeared to be another source of demand for PUMP, with several posts touting a bullish run for the token over the past few days. Onchain reports show Ansem also holds a long position executed near $0.0017, putting the current price rise at risk if he realizes profits.
Pump.fun price forecast: PUMP halts near $0.00220 resistance again
On the daily chart, PUMP is holding a constructive near-term bullish bias, with prices above the 20-, 50-, and 100-day Exponential Moving Averages, clustered between $0.00172 and $0.00181. Momentum supports the upside stance, with the 14-day Relative Strength Index (RSI) hovering in bullish territory and the Stochastic Oscillator lingering at overbought levels, suggesting buyers remain in control even as the risk of a shallow pullback increases.
On the topside, initial resistance is set at $0.00220, with further barriers at $0.00238 and the higher horizontal cap at $0.00278.
On the downside, immediate demand is expected to emerge around the dynamic EMA cluster near $0.00181â$0.00172, ahead of firmer horizontal support at $0.00160. A deeper correction would expose the next downside cushion at $0.00130.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
