PUMP (Pump.fun) rose 14.11% in the last 24 hours.

Gate News Bot news, on September 29, according to CoinMarketCap data, PUMP (Pump.fun) is currently priced at $0.00585035, having risen 14.11% in the last 24 hours, reaching a high of $0.00616406 and a low of $0.00485496. The 24-hour volume is $539 million. The current market capitalization is approximately $2.071 billion, an increase of $256 million from yesterday. The current market cap rank is 52.

Pump is a platform that allows anyone to create tokens. All tokens created on Pump are fairly released, meaning that when a token is first created, everyone has an equal opportunity to buy and sell. Users can choose their preferred tokens, purchase along the binding curve, and can sell at any time to lock in profits or losses.

PUMP recent important news:

1️⃣ Price volatility attracts market attention PUMP has experienced significant price fluctuations recently. On September 26, the price of PUMP dropped from a peak of $0.00783237 to a low of $0.00497321, a decline of over 36%. However, in the following days, the price of PUMP rebounded, rising 14.11% within 24 hours. This dramatic price fluctuation reflects the market's high uncertainty and changing risk perception regarding the asset.

2️⃣ Behavior of large investors affects market sentiment The actions of several large investors have attracted market attention. A well-known investor's PUMP long position has experienced an unrealized loss of about $5.6 million, while another large holder with an address starting with 0x880a has reduced their PUMP short position, decreasing their holdings by 190 million coins, worth approximately $2.01 million. These actions by large holders may significantly impact market sentiment, exacerbating the volatility of the PUMP price.

3️⃣ User activity on the Pump.Fun platform continues to rise Despite the severe price fluctuations, the activity level of the Pump.Fun platform is still on the rise. In the past 90 days, the daily active users of the Pump.Fun App have increased by over 450%. In the market share of the Solana token issuance platform, Pump.Fun ranks first with a 74.1% share, demonstrating the platform's increasing popularity among users. This expansion of the user base may support the long-term development of PUMP.

From a technical perspective, the pump may continue to maintain high volatility in the short term. The support level may be around $0.00485, while the resistance level could be around $0.00616. Investors need to closely monitor the activities of large holders and the platform's developments, while also being wary of the risks brought by rapid changes in market sentiment.

This message is not intended as investment advice; investors should be aware of market volatility risks.