crypto.news
The $PUMP token is surging as strong buybacks and rising demand spark a 22% jump, putting the token in the spotlight for investors and traders alike.
- $PUMP price rallied 22% to multi-day highs, trading near $0.0058 after back-to-back gains.
- Pump.fun’s buyback program has removed over 21 billion $PUMP from circulation since July, reducing supply by 6.1% and fueling upward pressure.
- On-chain data shows 77,000 wallets now hold $PUMP, with steady whale accumulation and nearly 19,000 daily active addresses signaling growing demand.
$PUMP ($PUMP) was up nearly 22% in the early hours of today, reaching a high of $0.006, according to market data from crypto.news. The token has since eased to around $0.0058 at the time of writing, but remains one of the day’s top gainers amid renewed market activity.
A key driver behind the rally is Pump.fun’s aggressive buyback program. The platform has repurchased more than 21 billion $PUMP worth $84 million since mid-July, steadily removing tokens from circulation. The daily repurchases of around $1.5 million on average have cut the total supply by 6.1% in under two months.
Another catalyst of the uptick is the recent Binance.US listing of the token. Deposits opened on September 9, and trading began September 10. The announcement sparked a surge in market activity, sending daily trading volume to roughly $443 million, about 130% higher than its recent average and drawing in new participants to the market.
Adding weight to the positive momentum is tightening supply and rising whale interest. On-chain data shows the token now has about 77,000 holders, most with under 10,000 tokens. Larger holders are also increasing, and roughly a few thousand wallets hold at least 1 million $PUMP, while a few hundred wallets control tens of millions.
This quiet accumulation by larger holders, paired with record daily activity approaching 19,000 active addresses, signals increasing demand, fueling the latest surge.
$PUMP price outlook
$PUMP’s broader trend remains firmly upward, with the token climbing about 66% over the past month. That strength has carried into the shorter time frame as well, with a roughly 40% gain in the past week helping it outpace most of the crypto market. The steady advance shows how momentum has built well beyond the latest single-day spike.
Looking ahead, traders are watching key price areas that could define the next move. Support has formed near $0.0054 to $0.0055, the zone where $PUMP held after its September surge. As long as the token stays above that band, the short-term uptrend remains intact. On the upside, initial resistance is clustered around $0.0061 to $0.0062, and a strong close above that level could open a path toward the next target near $0.0068 to $0.0070.
Momentum indicators such as the RSI show $PUMP in overbought territory above 70, suggesting that while the uptrend is strong, short-term volatility or pullbacks may occur. Overall, buyers remain in control across weekly and monthly charts. If $PUMP can hold support and push through the immediate resistance, the market may be setting up for another leg higher in the near term.
$PUMP price trend alongside technical indicators and support levels.">