Pump.fun’s native token, PUMP has experienced a resurgence, reclaiming the $0.004 mark amid significant smart money inflows. Data from Nansen indicates that smart money investors have increased their PUMP holdings by over 17%, signaling a renewed interest in the token.
Despite a broader market downturn, PUMP has shown resilience, trading at $0.004, up 25% over the past month. This uptick follows a period of low retail interest, with Messari reporting a 47% decline in mindshare. The influx of smart money suggests a strategic accumulation phase, anticipating a potential rebound.
The Pump.fun team has also been active, repurchasing over 9% of the token supply, though repurchases have slowed since September. Additionally, the platform continues to lead meme token launches on Solana, maintaining its position ahead of competitors like Four.meme. Looking ahead, investors will be monitoring PUMP’s performance against key resistance levels and the ongoing buyback strategy to gauge the token’s potential for a sustained rally.
Source: https://x.com/nansen_ai/status/1980484232599466187
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