Pump.fun's PUMP Token Surges 35% Amid Revenue-Funded Repurchases

Pump.fun's PUMP token has seen a significant surge in price over the past week, rising by more than 35%.

This increase has pushed the token above its key daily moving averages and placed it near the upper boundary of an ascending channel at around $0.0028.

Despite the strong momentum, traders are cautioned that the Relative Strength Index (RSI) on the 4-hour chart has reached 76.71, indicating overbought conditions.

The token's revenue-funded repurchase program and a major July token distribution have contributed to its recovery.