PUMP's price is poised for a significant breakout, driven by strategic buybacks and a new listing on the HTX exchange. As the token approaches a critical resistance level, market analysts are closely monitoring its potential to surge higher, and the material points to an encouraging trend: this could lead to increased investor confidence and further price appreciation.
Current Resistance Levels for PUMP
Currently, PUMP is facing strong resistance around the 0.000655 mark. If it manages to break through this barrier, analysts predict it could target levels of 0.000743 and even 0.0008. This upward momentum is bolstered by Pumpfun's ongoing daily token buybacks, which have been in effect since mid-July. The company has been utilizing revenue generated from its platform to repurchase PUMP tokens, providing essential support for the token's price stability.
Pumpfun's Impressive Revenue Performance
In the week ending in late September, Pumpfun reported an impressive revenue of 965 million, solidifying its position as a leader among Solana-based decentralized applications for the eighth consecutive week. The recent listing on the HTX exchange has further fueled interest in PUMP, and analysts are optimistic about a potential rally if the current resistance is successfully breached.
