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Recently, PUMP has experienced a significant increase, rising by 3.68% in a short period. The reasons behind this are worth examining.
The latest actions from the Pump.fun platform have been quite proactive—just purchased $869,000 worth of PUMP tokens, bringing the total buyback amount to around $230 million, with a suppression effect on circulating supply reaching 4.26%. This sustained market support has provided solid backing for the price.
From the chart, PUMP currently shows several bullish signals. The MACD has shifted from negative to positive, and the RSI is also in a strong zone, testing a key resistance level. Under this pattern, a short-term rebound is quite likely.
Community sentiment is also positive, with about 80% of voices expressing optimism. The main discussion revolves around the actual effects of the buyback mechanism and the FOMO expectations driven by the Pump.fun ecosystem projects.
From an operational perspective, if you are optimistic about recent performance, you might consider a long position via contracts, with a target of $0.0025 and a stop-loss below $0.0022. However, since memecoin volatility is inherently high, risk management must be prioritized.