PUMP Surges 20% From Range Low, Outshines Market Peers
TL;DR
- PUMP breaks out from $0.0035 support after 50 days, showing renewed market strength and momentum.
- Trading volume tops $360M as PUMP outperforms, gaining over 30% in just 7 days.
- Project Ascend introduces lower fees, boosting creator incentives and ecosystem sustainability on pump.fun.
Price Moves Out of Tight Range
PUMP has moved up 20% from its recent bottom, climbing from around $0.0035 to over $0.0042. The move follows several weeks of sideways price action, where it repeatedly tested support at the lower end of its range. After holding steady, the asset broke through short-term resistance.
Meanwhile, the trading range between $0.0035 and $0.0068 has remained in place for about 50 days. Now, with the price pushing into the upper half, traders are watching for a possible move toward the top of the range. Holding above the breakout level could keep momentum going.
Analysts Point to Market Strength
CryptoAmsterdam noted that PUMP is moving better than most other tokens right now. “PUMP is outperforming the rest of the market,” the analyst said, adding that it remains on the radar even if the broader crypto market cools down.
Over the last 7 days, PUMP has gained over 30%. Volume has also increased, with $360 million traded in the past 24 hours. These signs show growing interest in the token while many others are struggling or moving sideways.
PUMP is trading just below $0.0042, a price area that has acted as resistance twice before. Altcoin Sherpa said,
Notably, the $0.0042 mark is now seen as a key level. A clean move above it may open up room to target the range high near $0.0068. If the price fails to push through, traders will be looking at the $0.0034–$0.0036 zone for support.
Platform Changes Support Growth
The team behind pump.fun recently announced a new update called Project Ascend. One of the major changes is a new fee model. Called “Dynamic Fees V1,” it reduces creator fees as a coin’s market cap increases.
In addition, this change is expected to attract more creators and help coins last longer. The platform said the updates make it more rewarding to launch and grow coins, without raising costs for traders.
The timing of this update lines up with the recent price move. While short-term price swings remain possible, traders are watching closely as PUMP continues to lead many of its peers.
The post PUMP Surges 20% From Range Low, Outshines Market Peers appeared first on CryptoPotato.
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