Pump.fun coin is demonstrating significant momentum, having surpassed a major milestone with over $151 million worth of tokens bought back to date. This consistent buyback pressure indicates strong commitment from both the project team and its community, fostering increased market confidence.
Current market indicators suggest that the PUMP price may be on the verge of another substantial upward movement.
Buybacks Fueling PUMP Momentum
As reported by Crypto Patel, PUMP buybacks have now reached over 763,000 SOL, valued at approximately $151 million since the project's inception. This figure is substantial for a relatively new project.
These buybacks are not merely a token burn or a marketing tactic; they directly reduce the circulating supply and represent a significant investment by the project in its own ecosystem.
With only 9.5% of the total supply currently in circulation, scarcity is becoming a notable factor. Patel described the buybacks as a "bullish signal for holders," emphasizing that such consistent, long-term activity enhances price stability and strengthens community trust, which is currently reflected in the market charts.
PUMP Chart Setup: Breakout and Momentum Building
Crypto trader Greeny highlighted a 12-hour chart indicating that Pump.fun price has broken through its prolonged descending trendline, a pattern that had been suppressing its price for weeks. The trader's position has already seen a 132% increase, with the token currently trading around $0.0046.
The rebound originated at the 0.786 Fibonacci retracement level ($0.0039), a point often acting as a springboard for initial trend reversals. Key resistance levels to monitor going forward include $0.00475, $0.0050, and $0.0057.
Should the bulls successfully break above and sustain trading above $0.0058, the path could clear for a move towards $0.0089, approaching its previous high.
The PUMP chart is now exhibiting higher lows, increasing trading volume, and smaller pullbacks, all characteristic signs of a potential trend reversal.
Fundamentals and Technicals Align
A significant development for PUMP is the convergence of its fundamental and technical indicators. The ongoing buybacks, stable liquidity, and growing trading volume on the Solana network are contributing to the chart's strength.
Even during broader market downturns, the token has demonstrated resilience compared to many newer projects, largely attributed to the effectiveness of its buyback program. As more supply is removed from the market weekly, the conditions are naturally set for gradual price appreciation.
Outlook For PUMP
In the short term, as long as $0.0039 holds as support, the bullish outlook remains intact. A breakout and successful retest above $0.0058 could trigger another rally, potentially propelling PUMP price towards the $0.008-$0.009 range in the upcoming weeks.
If buybacks continue at their current pace, a price target of $0.01 appears achievable, especially with strengthening community sentiment and renewed trading activity.
Featuring one of the most aggressive buyback models in the market and a consistently improving chart, PUMP seems well-positioned for continued growth.