Pump.fun, the meme coin launchpad, has officially launched its $PUMP token, making a major splash across crypto and social media. Debuting with a $5.6 billion valuation, the token secured listings on top-tier exchanges. This follows a wildly successful ICO that raised $500 million in under 12 minutes over the weekend.
What is the $PUMP Token?
The $PUMP token serves as the official utility coin for the Pump.fun launch platform and the swap.pump.fun AMM protocol, collectively known as the “Pump.Fun Protocols.” It debuted at $0.0056, reflecting a fully diluted valuation of $5.6 billion. The price briefly surged to $0.0065 before dipping to $0.0054 at the time of writing.
$PUMP Recent Performance
PUMP has dropped over 12% in the past 24 hours, now trading at $0.005869. The decline followed news that Pump.fun transferred 13.75 billion PUMP tokens—worth approximately $55 million—to leading market maker Wintermute.
The token has formed a new short-term trading range, with support near $0.0055 and resistance at $0.007477. A breakout above $0.0075 could signal a potential recovery, while a drop below $0.0055 may lead to a deeper correction.
Additionally, trading volume surged by over 25,658% in the past 24 hours, reaching $1.42 billion. While this spike reflects increased trader interest, it may also signal speculative activity. Investors should remain cautious of potential false breakouts and wash trading amid such heightened volatility.
