On-Chain Data Reveals the Real Driver of PUMP’s 11% Rally: Whale Buys
The Pump.fun (PUMP) token has caught a bid, jumping over 11% in the last 24 hours to trade around $0.00322 on Tuesday. This move is backed by a combination of bullish technicals, a strong token buyback program, and clear signs of accumulation by large whale traders.
Three Key Drivers Behind the PUMP Rally
A look at the data reveals three powerful factors fueling the renewed bullish sentiment for PUMP.
Rising Conviction from Whale Traders
First, whale traders are accumulating. In the past 24 hours, on-chain data shows a sharp uptick in demand, with the crypto venture firm GSR withdrawing $4.6 million worth of PUMP from an exchange.
🚨JUST IN: Is @GSR_io accumulating $PUMP? The firm withdrew $4.6M worth of $PUMP tokens from @Bybit_Official in the last 15 minutes, according to onchain data. pic.twitter.com/GUMkLKzv4Z
— SolanaFloor (@SolanaFloor) August 4, 2025
Yet another whale deposited 1.06 billion PUMP tokens and opened a 3x long position on Hyperliquid at around $0.00308 and set a liquidation of around $0.0013172.
Whale 0x9324 just went big on $PUMP!
— Lookonchain (@lookonchain) August 5, 2025
In the past 4 hours, he bought 1.06B $PUMP($3.28M) spot and opened a 3x long position with 594M $PUMP($1.83M). pic.twitter.com/CFwZN2uVMj
Buyback Program
Second, the platform’s token buyback program is actively reducing supply. Funded by fees from the popular memecoin launchpad, the program has already repurchased $22.8 million worth of PUMP tokens from the open market, creating a supportive floor for the price.
🚨JUST IN: @pumpdotfun has launched a revenue dashboard at , allowing real‑time tracking of daily revenues and $PUMP buybacks. Over the past 6 days, it purchased ~8,740 SOL worth of $PUMP, equal to 102% of revenue. pic.twitter.com/wndFyByDUj
— SolanaFloor (@SolanaFloor) August 4, 2025
PUMP funding rates turn positive across Exchanges
Third, the derivatives market is turning bullish. According to data from Coinglass, the average funding rate for PUMP across major exchanges turned positive on Monday.
Historically, a shift to a positive funding rate signals that traders are increasingly willing to pay a premium to hold long positions, a classic sign of strengthening bullish conviction.
Related: Pump.fun (PUMP) Price Prediction for August 2025
What the Technicals Say About PUMP’s Next Move
From a technical perspective, the PUMP price has been trying to regain its footing in recent days. On the four-hour chart, the price must consistently close above $0.00318 to open the door to a midterm target of around $0.004.
Related: PUMP Price Tests Critical Floor After $5.9 Million in Bullish Bets Wiped Out
If the broader crypto market sees a downturn, PUMP will need to hold above the lower border of its established rising trendline to avoid a drop back to the $0.0023 support level. For now, momentum is on the bulls’ side, with the MACD indicator having recently crossed above its signal line, a historically bullish sign.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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