- PUMP token initiates first buyback as symmetrical triangle pattern tightens
- Trading volume surges 140% as price nears breakout from key resistance zone
- Over 40,000 holders signal growing demand amid $6B FDV and bullish momentum
Pump.fun has officially initiated its first $PUMP token buyback, a major strategic move that is adding fuel to a technical chart pattern that already points to an explosive breakout.
After weeks of community-led speculation and volatile trading, the project’s proactive move in absorbing supply from the market introduces a strong fundamental tailwind.
Technical Picture Strengthens as Buyback Begins
According to Jeremy, a crypto analyst, $PUMP is currently forming a symmetrical triangle on the chart, a pattern known for its explosive price moves.
The price recently tested the triangle’s upper resistance zone, which corresponds to a fully diluted valuation (FDV) of $6.1 billion. At the same time, an ascending support line has formed around the $5.36 billion FDV area, which suggests that buying pressure is accumulating. This triangle continues to narrow, and a decisive move appears imminent.
Related: PUMP Token Plunges Over 24% as Exchange Glitches and Airdrop Anger Mount
The number of wallets holding $PUMP has now surpassed 40,000, and the total trading volume since its launch has exceeded $1.5 billion. These factors all support the case for a bullish continuation.
Intraday Price Levels and Momentum
At the time of writing, $PUMP trades at $0.006144, representing a daily gain of 12.57%. The token’s market capitalization sits at $2.17 billion, while its 24-hour trading volume has soared by over 140% to $1.38 billion. This sharp increase in volume confirms strong trader engagement and validates the upward momentum.
Related: Pump.fun Sends 13.75 Billion PUMP Tokens to Wintermute, Price Craters 22%
On the chart, key resistance remains at $0.0062, the recent peak. If bulls can push past this level with volume, further gains are likely. Below, support lies at $0.0057 and $0.0055, which served as previous consolidation zones. The local bottom at $0.0052 now acts as a firm demand area.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
