$PUMP token, the native cryptocurrency of the Solana-based memecoin launchpad Pump.fun, has reached a new all-time high, climbing nearly 25% over the weekend.
The token briefly touched a peak of $0.008456 as trading activity and market interest surged. The token briefly reached a peak of $0.008456 as trading activity and market interest surged. This newfound appeal stems from the new creator fee model and efforts to attract live streamers from major platforms like Twitch.
Explosive Volume Fuelled the $PUMP Rally
The significant price increase accompanied by an explosive rise in trading volume. According to data from Santiment, PUMP’s daily trading volume has surpassed $1.16 billion, marking a 132% increase.
This massive influx of capital suggests strong market conviction and aggressive buying from traders.
When both an asset’s price and its trading volume rise in tandem, it typically signals robust demand, which could drive further gains.
The Aroon Up indicator, which measures the strength of a trend, is currently at its maximum reading of 100% on PUMP’s one-day chart.
This indicates that new highs are being consistently set and confirms that bullish momentum is at its strongest.
Currently trading just below its all-time high at $0.007803, $PUMP appears poised for continued upward movement if buying pressure persists. However, an increase in profit-taking could lead to a reversal.
If a sell-off occurs, the token could retreat toward its nearest support level at $0.007131.
