Solana News Today: Whale Bet Signals PUMP's Bullish Turn in Solana Meme Coin Race

A whale has recently taken a significant long position on the PUMP token with 5x leverage, amounting to approximately $6.3 million. The move highlights growing interest in the PUMP token, which serves as the utility and governance token for the platform pump.fun—a Solana-based platform that enables the creation and trading of memecoins. PUMP’s July 2025 launch was marked by massive investor demand, raising nearly $600 million in its initial coin offering within minutes. Despite experiencing a sharp price drop post-listing, the token has shown signs of recovery in recent weeks, with a 35% price increase over the past seven days and a current trading price of around $0.0045 [1].

The whale’s leveraged position underscores the token’s potential for further price appreciation. PUMP’s all-time high stands at $0.0121, achieved on its launch day, a level that would require a significant surge in market cap to be reclaimed. According to data from Coinbase, PUMP’s current market cap is $1.41 billion, while its fully diluted valuation is $3.98 billion. The token’s circulating supply is 354 billion PUMP, representing 35% of its maximum supply of 1 trillion tokens [2]. The whale’s position is notable not only for its size but also for its timing, as the token appears to be on a bullish trajectory with five consecutive green daily closes, an occurrence not seen in over a month [1].

The pump.fun platform is actively supporting the token’s price through consistent buybacks. In the past week alone, over $12 million worth of PUMP tokens have been repurchased, a strategy funded by the platform’s fee revenue. These buybacks create a steady source of buying pressure, suggesting that the platform is committed to enhancing the token’s value proposition [1]. Analysts have noted that while a return to PUMP’s all-time high by the end of September may be ambitious, a push toward the $0.0054 resistance level appears more feasible given the token’s recent performance and ongoing buyback efforts [1].

Beyond the whale’s activity, broader market dynamics also appear favorable for PUMP. Over the past 24 hours, PUMP’s trading volume reached $501.23 million, with a 13.01% increase in volume over the past week. This surge in trading activity aligns with the platform’s growing influence in the Solana ecosystem, where pump.fun has been responsible for over half of all decentralized exchange (DEX) transactions at times. The token’s performance also outpaced that of the Solana (SOL) network in recent days, despite a 5% drop in the latter’s price [2].

However, some traders have expressed concerns over PUMP’s heavy reliance on buybacks as a primary mechanism for price support. As an alternative, projects like Snorter (SNORT)—a Telegram-based trading bot designed for the Solana ecosystem—have gained attention for their utility-driven models. SNORT’s presale has raised $3.7 million so far, and its token offers fee discounts and access to premium trading features. This approach creates a demand cycle tied to the token’s usage, potentially offering a more sustainable model for price appreciation [1]. Despite this, PUMP’s current momentum and the whale’s large position suggest that the token remains a focal point for traders seeking exposure to the volatile but potentially lucrative Solana-based meme coin market.

Source:

[1] PUMP Crypto Price Prediction: All-Time Highs in September? (https://cryptodnes.bg/en/pump-crypto-price-prediction-all-time-highs-in-september/)

[2] Pump.fun Price, PUMP Price, Live Charts, and Marketcap (https://www.coinbase.com/price/pump-fun-solana)