The cryptocurrency PUMP has increased its value by 10% over the past 24 hours. This growth occurred against a backdrop of high launch activity on the Pump fun platform and rising interest in memecoins. The recorded trading volume on the network rose by 8.89%, reaching $179.28 million. The altcoin seasonality index currently stands at 49, indicating growing interest in riskier assets in the crypto market.
The price increase of PUMP is accompanied by growing activity on the Pump fun platform, leading to increased demand for the token and its ecosystem. If the capital flow continues to come through the platform, it could further strengthen the upward trend of PUMP. The rewards program for token holders began on September 12, resulting in a significant increase in network revenues. According to recent data, revenues for Pump fun holders and active addresses have increased: over the past 24 hours, the network revenue amounted to $761K, and the number of active addresses rose to 86,000.
On the daily chart, PUMP is approaching a local maximum level of $0.005, which will be a key test for the current recovery. The token is trading above all key moving averages, indicating the dominance of buyers and holders. Sustained growth above this level could strengthen the bullish structure and open the way for further growth. Conversely, if PUMP fails to break through the $0.005 mark, it may lead to profit-taking after a 10% increase. Thus, the increase in trading volume, activity on Pump fun, and improved sentiment towards memecoins are contributing to the current recovery of PUMP.