Pump.Fun's PUMP Token Seeks Breakout Amidst Wild Ride
Pump.Fun's PUMP token has been on a wild ride since its launch in mid-2025 as the native asset behind its Solana-based meme coin creation platform.
The project's fortunes have closely tracked the broader meme coin cycle, with sharp rallies followed by extended pullbacks. This trend continued recently, with PUMP experiencing a 3.1% drop over the past 24 hours to $0.003599.
Technical analysts note that price is currently testing the lower boundary of its descending channel on the daily chart since the late-August high. A bounce from the current zone near $0.003112 would need to clear the channel's upper boundary, roughly $0.004892, for a breakout attempt.
If the support at $0.003112 gives way, sellers could target the 200 EMA near $0.002674 next, which has not been tested since the golden cross formed earlier this year.