Key Points
- PUMP rose 1.1% over the past 24 hours, outperforming the broader cryptocurrency market.
- The latest rally follows Pump.fun rolling out a new creator callout feature that allows creators to share trending coins on the platform.
Pump.fun DEX Volume Surges as Price Nears $0.003
PUMP, the native token of the Pump.fun decentralized exchange (DEX), gained roughly 1% in the past 24 hours, outpacing the broader crypto market.
This positive performance coincides with Pump.fun’s Thursday launch of a creator “callout” feature that enables creators to share coin promotions with their followers. The new functionality could boost social engagement and trading activity on the platform.
The announcement came as Pump.fun’s DEX trading volume climbed to $84.34 million several hours earlier, signaling growing momentum.
Derivatives metrics also indicate shifting retail interest in PUMP over the past week. According to CoinGlass, PUMP’s open interest (OI) fell about 2% in 24 hours to $237.69 million, after having surged to roughly $250 million twice so far this month.
Additionally, the OI-weighted funding rate has moved into negative territory at -0.0032%, suggesting traders are favoring short positions at present.
PUMP Targets Psychological $0.0033 Level
The PUMP/USD 4-hour chart shows bullish momentum and efficiency, with the token delivering strong performance since earlier this week. After two recent rejections, PUMP is trading around $0.0029.
The moving average convergence divergence (MACD) sits above its signal line and remains in positive territory. The relative strength index (RSI) is near 60, moving toward overbought conditions and aligning with this week’s recovery.
A daily close above $0.003000 would reinforce the short-term bullish bias and could push PUMP toward the $0.0033 target. The next major resistance level sits near $0.004048.
Conversely, if bulls fail and PUMP drops below the 20-day EMA at $0.002577, the token could slide further toward support at $0.002330.