Pump.fun's PUMP Surges 30% Amid Token Buybacks and Whale Activity

Pump.fun’s native token, PUMP, has rallied nearly 30% from a recent low of $0.0022 to $0.0027 over the past two days, breaking above the $0.0030 resistance level for the first time in a week. This move has rekindled speculation about a potential "Hated Rally," a term used to describe the resurgence of assets that are widely disliked by the market but experience short-term gains due to hype or buying pressure from large investors. The rally follows a sharp decline that saw PUMP drop 70% from its all-time high of $0.0068, hitting a new all-time low of $0.0022 on July 29 after the project's co-founder, Alon Cohen, stated the anticipated airdrop would not occur soon. [1]

The recent price rebound has coincided with increased token buybacks and renewed interest from large investors. A whale, previously known for significant losses on PUMP, reportedly spent 17,542 SOL (approximately $3.16 million) on the token on Thursday. Additionally, Pump.fun transferred 12,000 SOL—about $2.16 million—to its buyback address on July 30, bringing total repurchase efforts to over $21.5 million since the program began on July 16. [1]

Crypto analyst Altcoin Sherpa has highlighted the recent price action as a sign of potential strength, suggesting that PUMP has shown “some great strong moves lately” and that a “hated rally” could be on the horizon. He previously predicted that the token’s bottom was near and could lead to a significant upward move. However, analysts caution that while the price rebound is encouraging, it is largely driven by speculative activity and does not necessarily reflect a fundamental shift in the project’s trajectory. [1]

The Pump.fun buyback program has been a focal point for the community, with some members noting that 98% of the platform’s recent PumpFun / PumpSwap revenue was directed toward purchasing PUMP tokens. However, the initiative has also drawn criticism for its inconsistent execution. A user on X described the approach as “erratic,” pointing out that buybacks have fluctuated in scale and timing, with some believing the strategy is more about capturing attention than genuine long-term value creation. [1]

PUMP currently trades at $0.0027, having retreated slightly from its recent high of $0.0032. The token continues to oscillate within the $0.0024–$0.0029 range as it attempts to break out and sustain a more meaningful recovery. With ongoing buyback efforts and renewed investor interest, the near-term outlook remains speculative, but further momentum will depend on whether the buying pressure continues and whether broader market conditions support such a move.

Source: [1] https://www.newsbtc.com/news/hated-rally-coming-pump-fun-pump-soars-30-from-lows-amid-token-buybacks/