PUMP up 13% as Wintermute scoops $3.5mln – Is a 55% rally next?
The post PUMP up 13% as Wintermute scoops $3.5mln – Is a 55% rally next? appeared on BitcoinEthereumNews.com.
Key Takeaways PUMP gained momentum after Wintermute accumulated $3.55 million in tokens. Bulls now eye a 12%–55% upside range. Pump.fun [PUMP] is mounting a strong recovery after plunging 67% from its all-time high, backed by a clean breakout and whale accumulation. PUMP leads gainers, but volume slips At press time, PUMP traded at $0.002909, having climbed 13% over the past 24 hours. With this impressive price uptick, the memecoin appeared on the top gainers list, outperforming major assets like Bitcoin [BTC] and Ethereum [ETH]. However, 24-hour volume fell 10%, reflecting hesitation among traders despite the price uptick. Why is PUMP’s price rising? PUMP defied the broader market chop with a clean breakout, largely fueled by notable whale participation and investor accumulation. Solscan data showed that Wintermute, a top algorithmic trading firm, accumulated 1.24 billion PUMP tokens worth $3.55 million in the past 24 hours. The firm sourced these memecoins from exchanges like Gate.io and Bybit, marking strong participation from a known liquidity mover. Source: Solscan However, it’s not just accumulation that has been observed. Wintermute also rotated 1.01 billion tokens ($2.69 million) via its liquidity wallet, possibly for DEX liquidity or exchange deposits. Is the bear phase done? This activity aligned with a breakout on the charts. AMBCrypto’s technical analysis revealed that PUMP has finally broken through a key resistance level, which it had been facing along a descending trendline. The TradingView chart showed that the memecoin not only breached the trendline but also closed a four-hour candle above it, indicating a successful breakout. Source: TradingView If momentum holds, PUMP could rally 12% to $0.00332. A candle close above $0.0038 could trigger a much larger 55% upside move. The Supertrend indicator flipped green and shifted below the price, confirming a bullish bias. PUMP’s bullish on-chain activity Investors and long-term holders…
Filed under: News - @ August 3, 2025 8:23 pm