PUMP Crypto Breaks Out of Multi-Week Trendline
PUMP crypto, the native token of Solana-based Pump.fun platform, has surged by over +18% in 24 hours, breaking out from a multi-week descending trendline. The price now sits near $0.002135, and volume is surging, with over $113M traded on this day alone.
Despite the release of 32.5 billion tokens from investor allocations and 50 billion from team allocations, which many expected to trigger a sell-off, PUMP instead attracted spot buyers rather than leveraged speculators. The decline in Open Interest indicates that these buyers are fueling the move.
The rally follows an unusual sequence: PUMP absorbed its largest-ever investor and team token unlock without triggering a sell-off. Instead of capitulating, 24-hour volume hit more than $113M, up 24.78% on the day. The Supertrend indicator flipped bullish, suggesting that this breakout may be more than just a temporary spike.