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 $0.00181–$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.)
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
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