Pump.fun Price Surges 12%, Is a Breakout to $0.0045 Coming?

The post Pump.fun Price Surges 12%, Is a Breakout to $0.0045 Coming? appeared first on Coinpedia Fintech News

Pump.fun price has staged an impressive rally, chugging up 12.41% in a single day and nearly 37% over the past week. The token now trades around $0.003796 with a market cap of $1.34 billion. Which is assisted by the 24-hour volume soaring 78.52% to $291.51 million.

After finding intraday support near $0.003258 and reaching as high as $0.003839, PUMP is attempting to build momentum above key technical levels. Curious about the token’s next move? Join me as I decode the same in this analysis.

Pump.fun Price Analysis

The drivers to the latest price surge comes from two major catalysts: aggressive buybacks exceeding $1 million daily since August 6. And a dominant 62% revenue share in Solana memecoin launches since August 4. These factors have tightened circulating supply and reaffirmed PUMP’s relevance in the memecoin space.

Technically speaking, PUMP price has broken above both its 7-day SMA at $0.0033 and the 23.6% Fib retracement level at $0.00379. The RSI currently stands at 65.76, indicating strong bullish momentum, although it remains distant from the overbought territory. Traders seem to have capitalized on this breakout, pushing the price toward the next resistance level at $0.0041, which was a zone last tested on July 19.

However, the MACD convergence at -0.00006 hints that momentum may be taking a break before any push higher. That being said, if the PUMP price fails to clear $0.0041, support lies near $0.0033. On the upside, a successful breakout could pave the way for a path to $0.00451.