Hey, friends! How is it that a Solana token shoots up 35% while Bitcoin barely moves? 🤔 Is the party happening somewhere else? 🚀
That's the question we all ask ourselves in the crypto world. While Bitcoin and Ethereum are having a little coffee and rising bit by bit, the real party is in PUMP, the token of the Pump.fun platform. This gem has made a crazy comeback, rising more than 30% in the last week. But why, if the market seemed stagnant? Here we break it down for you! 👇
First, let's put things in context: the crypto market is once again around $3.8 trillion. Bitcoin surpassed $115,000 and Ethereum $3,600, but those increases of 2-3% don't keep anyone looking for thrills awake at night. For the Degens (those who dive deep into risky coins), the real action is in memecoins, which are finally seeing the light after a massacre. 💀
The PUMP token collapsed after its launch, but things changed when the company behind Pump.fun got to work. What did they do? They started buying back their own tokens with the profits from their platform. A masterstroke! 🧠 Since they started, they have put $23 million back into play. That was enough to give a brutal push and send the price soaring again. 📈
The chart experts, who see numbers as if they were a treasure map, are seeing very good signals. The RSI (a momentum indicator) is at 67, which means the token has strength to continue rising without triggering the 'overbought' alarm. The ADX (which measures trend strength) has already surpassed 25 points, confirming that the decline has stopped and that there is now a clear direction. And as if that weren't enough, the EMAs (moving averages) are getting closer to crossing in the right direction, which has historically been a signal that a sustained rise is coming. 🤯
In summary, Pump.fun's move to buy back its tokens was the initial kick needed to reactivate confidence. The numbers now support the hype and show that traders are starting to accumulate again. This is not just a simple 'spike', it is a possible trend change.
Could this comeback be just the beginning of a new season of craziness in Solana's memecoins? 👀$PUMP $BTC $SOL
