$PUMP Why is it continuing to strengthen?
#pump Recently, it has been continuously rising, and its market share has firmly secured the first place. 🚀🚀🚀
The reasons behind this are not only the MEME culture and live streaming that have attracted a large number of 'retail investors' into the market but also the key factor that its daily income of 2 million USD will be fully used to buy back its own tokens. In other words, the more tokens issued, the higher the transaction fees, the more buybacks, leading to a spiral increase in price.
Currently, PUMP's daily chart has formed a step-like stretching trend, similar to the previous BONK market. As income continues to increase, the token price also rises.
Pay attention to PUMP protocol's daily income; the higher the income, the greater the potential for price increase. If a pullback occurs, look for opportunities to go long and follow the upward trend.
PUMP's mechanism promotes the spiral increase in price; as long as income continues to grow, the token will keep strengthening. A pullback is a good entry point, and there are significant short-term trading opportunities.
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