PUMP, the token linked to Solana-based memecoin launchpad Pump.fun, surged 10% within a day, closing in on a key resistance level at $0.002245. The price action showed buyers firmly in control, with PUMP maintaining positions above its key moving averages and continuously setting higher highs.
Behind this rally lies a notable uptick in Pump.fun’s platform activity. Over the past month, the protocol’s revenue jumped to $32.84 million, marking an increase of roughly $6 million compared to the previous period. Daily protocol fees also climbed by 22.6% month-over-month, signaling more frequent and larger transactions on the network. This surge in usage gives weight to the token’s upward momentum, linking technical strength with solid fundamental demand.
The daily charts reveal that PUMP’s price has stayed above its Exponential Moving Averages, a common bullish indicator. Buyers have stepped in during retracements, pushing the price incrementally higher toward the key $0.002245 resistance. Should the token close decisively above this barrier, it could open the door for further gains. However, if sellers push back, profit-taking may occur after the recent run-up.
Looking ahead, data from CoinGlass highlights a liquidity cluster around $0.002263 worth $395,000. This level stands as the next potential milestone if PUMP manages to break out. The tight range between the current resistance and this liquidity zone suggests a quick test of market strength, requiring fresh buying interest to absorb any selling pressure.
The steady rise in revenue and activity on Pump.fun’s platform parallels PUMP’s price rally, reinforcing the bullish outlook for now, though the market remains poised for a key test near resistance.
This material is for informational purposes and does not constitute financial advice.
