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.
Summary
- 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.
