Pump.fun Token Surges 6% Amid Renewed On-Chain Activity
Pump.fun's token price has surged by over 6% in the past 24 hours, fueled by renewed on-chain activity and a large withdrawal from Bybit. A dormant wallet that had been inactive for nearly seven months suddenly withdrew 73.95 million PUMP tokens worth approximately $156,000, sparking speculation about larger players returning to the market.
The wallet's withdrawal comes as Pump.fun continues its buyback-and-burn program, which has reduced token supply and strengthened long-term tokenomics. This constructive fundamental backdrop is helping restore confidence in PUMP, with traders turning bullish on the project.
The next challenge for PUMP is to clear a major resistance zone at $0.00235-$0.00245, where sellers have repeatedly capped previous rallies. A decisive daily close above this zone could trigger an extension toward $0.00270 and eventually $0.00300.