PUMP Surges 5% Amid $148.8M Exchange Transfer

• PUMP surged 5% despite $148.8M exchange transfer, showing strong market resilience.
• Revenue remains stable at $1.59B with network fees rising to $913 million.
• Momentum indicators signal bullish trend, potential retest of $0.0027 resistance ahead.

Pump.fun — PUMP, recently caught everyone’s attention with a surprising 5% surge, even after moving a huge sum to exchanges. Traders have been watching closely as Pump.fun’s activity showed no negative impact on market performance. The altcoin not only held support but also displayed strong bullish momentum. Rising trading volumes and on-chain activity hint that buyers are stepping back in, fueling optimism for further gains.

Despite shifts in the broader crypto market, Pump.fun has maintained stable revenue over the last three months. Current figures show revenue hovering around $1.59 billion, consistently above the $1 billion mark. Market corrections that brought many altcoins down have not shaken PUMP. Network fees have also jumped to $913 million, averaging $6 million per week. High usage suggests strong community engagement and platform activity.

Recent moves reveal Pump.fun has been accelerating its deposits into exchanges. On the 15th of October, the platform deposited $148.48 million in stablecoins into Kraken, according to Lookonchain. Total deposits to Kraken now reach $844.8 million. During the same period, $1.35 billion in USDC has flowed from Kraken to Circle, showing how these exchanges act as bridges to real liquidity.

Pump.fun has historically sold a portion of funds from these deposits, often using proceeds to provide liquidity. For now, no cash-out has occurred. This approach shows careful treasury management and suggests deposits may not negatively impact the market. Market participants can view these moves as neutral, at least until funds are sold.

Despite the large deposit, PUMP has remained resilient. The altcoin bounced back from a recent retracement to $0.0020. Support at this level proved strong, and PUMP has posted four consecutive days of higher highs. The token recently hit $0.0026 before settling at $0.0025, up 5.8% on daily charts. Trading volume jumped 35% to $243 million, signaling renewed activity and investor confidence.

Momentum indicators suggest further gains may be possible. The Relative Strength Index climbed from 49 to 56, entering bullish territory. Buyers are clearly regaining control. The Stochastic Momentum Index also showed a bullish crossover at 21, further validating positive momentum. These signals indicate the trend may continue as long as sentiment remains supportive.

Analysts are watching the $0.0027 resistance closely. A successful retest could push PUMP toward $0.003 in the coming days. However, any signs of selling from Pump.fun’s exchange deposits could trigger a retracement toward $0.0020. For now, the market has absorbed the transfer smoothly, showing confidence in the altcoin’s stability.