Pump.fun Price Drops Despite $15B PumpSwap Volume

Pump.fun's price has dropped by 3.8% in the last 24 hours, despite its own DEX, PumpSwap, leading all Solana DEXs with $15 billion in September trading volume.

This is according to a post from the SolanaNews.sol account, which also claims that Solana DEX volume jumped by 20% to $78 billion in September, with PumpSwap holding about 19.2% of the total.

The PUMP token trades at $0.005521, and its market cap ranks #42 at $2.566B.

The price has been trading above a rising trendline since late September, but the Relative Strength Index (RSI) is currently below its moving average, indicating neutral momentum that has cooled from earlier in the rally.