The cryptocurrency token PUMP has shown significant growth after breaking its support level following 50 days of sideways movement. The market is showing renewed interest in this asset.
Price Movement After Breakout
PUMP has risen by 20% from its recent low, climbing from around $0.0035 to over $0.0042. This movement follows several weeks of sideways price action, during which the asset repeatedly tested support at the lower end of its range. After holding steady, the price broke through short-term resistance.
Market Strength Analysis
Analysts note that PUMP is performing better than most other tokens. Trading volume over the last 24 hours has reached $360 million, indicating growing interest in the token while many others remain flat or are declining.
Changes on pump.fun Platform
The pump.fun team recently announced Project Ascend, which includes a new fee model. This update reduces creator fees as a token's market capitalization increases, which is expected to attract more creators and help coins last longer.
PUMP is displaying promising results against the backdrop of changes on the platform and increasing trader interest. The coming weeks will be critical to determine if the token can continue its upward trajectory.
