PUMP (Pump.fun) fell 8.68% in the last 24 hours

Gate News Bot message, on September 26, according to CoinMarketCap data, PUMP (Pump.fun) is currently priced at 0.00516783 USD, falling 8.68% in the last 24 hours, with a highest price of 0.00783237 USD and a lowest price of 0.00497321 USD. The 24-hour volume reached 797 million USD. The current market capitalization is approximately 1.829 billion USD, a decrease of about 174 million USD compared to yesterday.

Pump is a platform that allows anyone to create tokens. All tokens created on Pump are fairly issued, which means that everyone has an equal opportunity to buy and sell at the time the token is first created.

Important news about PUMP recently:

1️⃣ Behavior of large investors triggers market fluctuations Recently, the actions of several large investors have attracted market attention. A well-known investor has incurred an unrealized loss of about $5.6 million on their PUMP long position, while another large holder with an address starting with 0x880a has reduced their PUMP short position, decreasing their holdings by 190 million tokens, amounting to approximately $2.01 million. These actions by large holders may significantly impact market sentiment and exacerbate the volatility of PUMP prices.

2️⃣ PUMP price fluctuates violently PUMP has experienced significant price volatility in the past 24 hours. The price fell from a high of $0.00783237 to a low of $0.00497321, a drop of over 36%. This severe price fluctuation reflects an increased awareness of uncertainty and risk regarding the asset in the market, which may lead to a more cautious investor sentiment.

3️⃣ Pump.Fun platform user activity continues to rise Despite the fall in price, the activity on the Pump.Fun platform is still on the rise. In the past 90 days, the daily active users of the Pump.Fun App have increased by over 450%. In the market share of Solana's token issuance platform, Pump.Fun ranks first with a share of 74.1%, indicating the platform's growing popularity among users. This expansion of the user base may support the long-term development of PUMP.

From a technical perspective, PUMP may continue to exhibit high volatility in the short term. Support may be around $0.00497, while resistance could be around $0.00783. Investors should closely monitor the actions of large holders and the developments of the platform, while also being wary of the risks posed by rapid changes in market sentiment.

This message is not an investment advice; investors should be aware of market volatility risks.