PUMP token gained 10% in 24 hours, with trading volume almost doubling to $412.78 million. Pump.fun has committed 54% of its protocol revenues to a continuous buyback and burn plan, removing $3.55 million worth of PUMP tokens from circulation, creating a deflationary pressure. Despite this, the price remains approximately 50% below its all-time high, with the $0.0055 resistance level having rejected the token twice. With 58% of open positions being long and the token trading above key EMAs, a decisive break above this level could pave the way for further gains.
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