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**Pump.fun (PUMP) Price Prediction: Token Rallies 15% as Platform Reclaims Solana Memecoin Dominance**
In a stunning turn of events, Pump.fun’s native token, PUMP, has rallied an astonishing 15% in a single day, reclaiming its position as the leading memecoin launchpad on the Solana blockchain. This remarkable surge in value brings the token’s market capitalization to a staggering $1.3 billion.
The sudden increase in value can be attributed to Pump.fun’s ability to regain dominance over competitor LetsBonk, which had temporarily surpassed the platform in July. Data from analyst Adam Tehc’s Dune Dashboard reveals that Pump.fun now controls an impressive 67% of daily meme coin launches on Solana, leaving LetsBonk lagging behind with a significantly reduced market share.
The trading volume data also corroborates this shift in dominance, as Pump.fun processed a substantial $134 million in trades, whereas LetsBonk managed only $12 million. These figures demonstrate the stark contrast between the two platforms’ performance.
In terms of chart analysis, our research suggests that the current rally is unlikely to abate anytime soon. A golden cross has formed on the 5-day Simple Moving Average (SMA) as it crossed above both the 8-day and 13-day SMAs, indicating a strong upward momentum for PUMP. This pattern is a powerful signal for traders seeking to capitalize on this trend.
From a support perspective, the token faces resistance at $0.0042 and will require a decisive close above this level to unlock potential targets at $0.0048. On the flip side, if price action falls below the critical $0.0033 support zone, focus may shift towards the $0.0030 region.
Notably, the token has continued to trade above its 5-day SMA despite minor pullbacks on shorter timeframes, suggesting that this upward momentum remains intact and investors should maintain their bullish stance.
The Pump.fun ecosystem’s recent resurgence is largely attributed to the introduction of the Glass Full Foundation (GFF) initiative, which aims to accelerate the growth of high-potential meme coins and their communities. This new liquidity injection has garnered significant attention from both users and investors, bolstering PUMP’s market value and reinforcing its position as the top memecoin launchpad.
As a result, we are now projecting an upward trajectory for PUMP, with potential targets at $0.0048.
Source: coincentral.com
