PUMP token up 27% in 24 hours. What triggered the rally?

On July 31, the price of PUMP rose by 27% in one day — from $0.0025 to a peak of $0.003267 — before stabilizing at $0.002929.

This followed a move by the Pump.fun platform, which directed approximately 98% of the previous day’s fees directly into market buy orders. This effectively reduced the circulating supply, while trading volume increased to $666 million, up 22%.

The 27% surge on Thursday marked the most significant price move for PUMP since its sharp drop after launch. However, this rally has its consequences. Just days before the recovery, triggered by buybacks, the token had fallen below its ICO price of $0.004 due to a mass exodus of early investors.

Last week, large holders transferred over $160 million worth of PUMP to exchanges. Two wallets alone moved 29.5 billion tokens. Selling pressure was expected: BitMEX analysts noted that 60% of presale participants liquidated or moved their holdings immediately after launch.

To offset such sell-offs, Pump.fun would need to conduct buybacks indefinitely.

Meanwhile, technical indicators suggest that PUMP may retest the $0.004 resistance level if the current momentum continues.

See also: "Bitcoin Price Today: Falls to $115.5K Amid Tariff Fears"

#PUMP #Bullish trend

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