TL;DR
- PUMP rose 15% following a message from Alon Cohen about new native community coins; its price reached $0.003335 with $624M in volume.
- An investor bought over 1 billion PUMP tokens for $3 million and opened a leveraged position, betting on another short-term price increase.
- The token broke a key resistance level and targets $0.003783; if it fails, it could fall back to the $0.002324 support.
The PUMP token, linked to the memecoin launchpad platform, surged 15% after an announcement by its co-founder Alon Cohen. It currently trades at $0.003335 with a volume exceeding $624 million, rising 67%.
Although Cohen did not share specific details, he hinted that a significant update regarding native community coins within the ecosystem will be revealed this week. This comment sparked enthusiasm among the project’s followers, who responded with aggressive buying that helped reverse the token’s previous decline.
Until a few days ago, the token was undergoing a deep correction. It lost 60% of its value in just two weeks, and its network was overtaken by other platforms focused on memecoins. Despite this negative context, Cohen pushed PUMP above peers like TROLL, allowing it to stand out on a day when the broader market showed low activity.
A PUMP Whale Shakes the Market
One key factor behind the rally was an investor who purchased over one billion PUMP tokens worth more than $3 million. Additionally, the investor opened a leveraged position with another 594 million tokens. This move indicates expectations for another price rise in the near term. Although leverage trading involves high risks, the position has already started generating profits thanks to the token’s renewed momentum.
Technical Analysis
From a technical perspective, PUMP broke through a resistance level that had held it back for several weeks. The chart shows that this former resistance now acts as support. If buying volume holds, the token could reach $0.003783, which would represent a gain of nearly 15% from the current level. The 50- and 100-day moving averages, around $0.002779 and $0.003084 respectively, provide important reference points for new entry opportunities.
However, if buyers start taking profits early, the token could return to a sideways trading phase. A deeper decline would push the price back to the $0.002324 support level. The token’s future depends on how the market reacts to Cohen’s promised announcement, which continues to fuel speculation in the absence of concrete details
