A wave of fresh demand has pushed PUMP back into the spotlight, with the token enjoying double-digit gains alongside a surge in speculative activity.
The move has reignited discussions about whether the coin can break through resistance levels and mount a run toward the symbolic $0.01 threshold.
Renewed Confidence in the Market
Over the last day, PUMP climbed close to 20% while trading activity accelerated sharply, with volumes now hovering near $187 million. Market capitalization has also expanded to almost $200 million, showing that participation is broadening beyond short-term traders. Many analysts view this as evidence of returning confidence after weeks of sideways movement.
Chart watchers point to a bullish setup that has been forming since mid-August. PUMP has carved out a rounded base and successfully flipped the $0.005 area into support. The next obstacle sits just under $0.0068, a price zone that previously acted as a ceiling. A breakout here would leave little resistance on the path to $0.01. Momentum indicators echo the optimism, with trend strength readings confirming buyer control.
Strategic Buybacks Tighten Supply
One of the less visible but highly influential drivers has been Pump.fun’s buyback program. More than $12 million worth of tokens have been removed from circulation, intentionally reducing available supply. This approach not only reinforces scarcity but also makes price swings more sensitive to shifts in demand — a strategy that has amplified the latest rally.
At the same time, derivatives markets have seen a burst of activity. Open interest climbed nearly 22% in a single session, reaching $759 million, according to CoinGlass. Such a spike suggests growing conviction among leveraged traders, many of whom are betting that the next breakout will carry PUMP significantly higher.
The Road Ahead
The decisive level to watch remains $0.0068. If buyers manage to conquer this zone, market watchers believe the rally could accelerate quickly toward $0.01. Conversely, a failure to hold recent gains would likely see PUMP retest its support near $0.005, though bulls argue any dips will likely be absorbed swiftly.
With supply shrinking, speculative capital pouring in, and technicals aligning, the stage is set for a volatile but potentially rewarding stretch. Whether or not PUMP crosses the $0.01 milestone soon, the coin has firmly re-entered the market narrative.
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Source: https://coindoo.com/traders-pile-into-pump-as-buybacks-fuel-breakout-hopes/