Crypto: PUMP 4X in 7 Weeks, From Crash to Comeback

PUMP From July’s Crash To A Remarkable Comeback

After plunging nearly 70% immediately following its ICO in July, many believed PUMP was destined to fade away. However, in just seven weeks, the token has surged fourfold, climbing from its bottom at $0.00227 to around $0.0082, far above its ICO price. This has been seen as one of the most impressive comebacks among Solana meme tokens, turning PUMP from “July’s loser” into “September’s comeback king.”

The Driving Forces Behind The Rally

The biggest catalyst for this recovery was Pump.fun’s buyback strategy implemented in late July, when the company used platform profits to repurchase tokens from the market. At the same time, the platform introduced creator rewards and incentives for streamers, boosting community engagement. As a result, trading volume quickly soared, daily revenue surpassed $1 million, and the market share lost to competitors like Bonk.fun was regained.

Technical Signals Indicate A Strong Uptrend

On the charts, technical indicators are reinforcing the bullish trend. The ADX index reached 44, confirming strong upward momentum. In addition, the Golden Cross signal appeared in early September, often viewed as the beginning of a long-term uptrend. However, the RSI is currently at 79, suggesting that PUMP is in overbought territory and could face a short-term correction back to the $0.007–$0.0075 range before continuing its upward move.

Market Remains Cautious

Despite PUMP’s impressive rebound, data from the Myriad prediction market reflects ongoing caution among investors. Many believe that PUMP’s market capitalization has a higher chance of dropping below $2 billion than surpassing $4 billion. This indicates that while the bullish trend is evident, market sentiment remains divided and not fully convinced of sustainable growth.

Key Price Levels To Watch

In the short term, the critical support levels lie around $0.0074 and $0.0066. On the upside, the psychological resistance level at $0.009 will be the first challenge, followed by the $0.0105 mark — a potential breakout level that could confirm the start of a new bullish cycle.

Conclusion

Pump.fun’s PUMP has proven its remarkable strength, achieving a fourfold surge in just seven weeks and making a strong comeback within the Solana ecosystem. However, with the RSI at elevated levels and investor sentiment still mixed, PUMP may require a short-term correction before embarking on its next growth phase.

Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.