PLUME +38.22% in 24 Hours Amid Strong On-Chain Activity and Bullish Technical Signals

On SEP 11 2025, PLUME surged by 38.22% within 24 hours to reach $4.732, marking a 3805.49% rise over seven days, a 4250.83% increase over a month, and a staggering 2595.26% rally over one year. This sharp rise reflects growing investor confidence and robust network-level activity.

The recent spike in PLUME’s value is attributed to a significant increase in on-chain metrics. Network activity, including transaction volume and unique addresses, has climbed to all-time highs, signaling heightened user adoption and engagement. On-chain data also indicates a shift in token ownership from short-term holders to long-term investors, which is often a precursor to price stability and long-term appreciation.

Technical analysis supports this bullish momentum. PLUME is currently trading above its 200-day moving average, a key indicator of long-term strength. The Relative Strength Index (RSI) remains elevated, suggesting continued upward pressure, while the Moving Average Convergence Divergence (MACD) has shown a strong positive crossover. These signals, combined with the price action, point to a well-established uptrend with no immediate signs of exhaustion.

Analysts project that the current technical and fundamental conditions could sustain the rally, particularly if on-chain adoption continues to grow at the current pace. However, caution is advised, as such a rapid ascent may invite short-term volatility in response to broader market shifts or profit-taking behavior.

Backtest Hypothesis

To evaluate the sustainability of PLUME’s recent performance, a backtesting strategy has been proposed. This strategy focuses on entry points based on RSI and MACD crossovers, with a trailing stop-loss mechanism triggered by a 10% drawdown. The strategy is designed to capture momentum-driven trends while minimizing exposure to sudden reversals. Historical data from the past 12 months will be used to validate the effectiveness of the strategy, with particular attention paid to its performance during periods of high volatility and rapid price movement. If the backtest confirms the model’s ability to generate consistent returns, it could reinforce the case for continued bullish positioning in PLUME.