Crypto News: New Whale Buys $23.5M in Pump Coin as Price Climbs Despite Market Volatility

Pump Coin jumps 10% to $0.002829 as a new whale accumulates $23.5M worth of tokens amid broader market consolidation.

Pump Coin has seen a 10% price increase in the past 24 hours, climbing to $0.002829 despite ongoing market uncertainty. A new large investor has accumulated $23.5 million worth of the token during a broader market pullback. The move has drawn attention from traders and analysts, especially as major cryptocurrencies remain flat.

Whale Acquisition Sparks Renewed Interest in Pump Coin

Over the past week, a new whale has purchased 8.288 million $PUMP tokens across several exchanges. The estimated value of the tokens is $23.5 million, with an average entry price of $0.00273. The tokens were withdrawn from Binance, OKX, and Bybit, then consolidated into four main wallets.

This accumulation began five days ago, followed by additional entries through dollar-cost averaging during recent market dips. The whale’s investment has been one of the largest single purchases for Pump Coin in recent months, according to blockchain tracking platforms.

Market participants have observed the wallet activity and interpreted it as a possible signal for continued buying pressure. On-chain analysts report that the funds were transferred through intermediary wallets before landing in long-term holding addresses.

Pump Coin Shows Uptrend While Other Tokens Move Sideways

While Bitcoin, Ethereum, and other large-cap assets remain in consolidation, Pump Coin has moved against the general trend. The token has gained nearly 5% in the past day, supported by increased trading volume and investor activity. The market has been largely neutral, but $PUMP continues to attract attention.

According to technical charts, the token has formed a falling wedge pattern on the 4-day chart. This formation is typically seen in periods where the asset is preparing for an upward shift. The current price level also sits in a previously tested demand zone.

Analysts note that the next price target for the coin is $0.0030 if current momentum holds. In the case of a stronger trend continuation, the coin may push further toward $0.004. However, any new bearish wave could pressure the token back to $0.0025, which is the nearest support level.

Related Reading:  Whales Return With Big Buys Fueling PUMP Price Lift-Off Potential

Market Indicators Show Strength with Room for Upside

The 4-hour chart of PUMP/USDT on Bybit reveals a strong short-term bullish trend. The token recently rebounded from a low of $0.002566, forming a V-shaped recovery. As of now, PUMP is trading above the 0.786 Fibonacci retracement level at $0.003025, with the price currently at $0.003089.

The Relative Strength Index (RSI) stands at 62.84, indicating growing bullish momentum. It is not yet in overbought territory, suggesting that there is still room for further upward movement. The RSI has also crossed above its midline and moving average, which often signals continued buying strength in the short term.

The MACD (12, 26) indicator also supports a bullish outlook. The MACD line (0.000027) has moved above the signal line (0.000016), and both are now above the zero line. This configuration typically points to increasing upward momentum, though the gap remains narrow and should be monitored for confirmation.

Immediate support levels now rest at $0.002927 and $0.002838, with stronger support seen between $0.002704–$0.002789. If current momentum holds, resistance at $0.003120 and psychological levels at $0.0032 and $0.0035 could be tested. A sustained breakout above these levels may lead to further price gains in the short term.

The post Crypto News: New Whale Buys $23.5M in Pump Coin as Price Climbs Despite Market Volatility appeared first on Live Bitcoin News.