A popular crypto trader thinks Pump.fun (PUMP) is primed for a price surge.
The pseudonymous analyst known as Pentoshi tells his 881,100 X followers that PUMP could jump past its initial coin offering (ICO) price of $0.004.
“PUMP has bought back 5% of the circulating supply, with about 4% of that in the last month, and is generating high revenue once again. 1% a week is a pretty free trade.
I think this will be trading over the ICO price in the very near future, and possibly even towards all-time highs as long as nothing else changes or [Pump.fun founder] Alon doesn’t change the buybacks.
I’ve been a pump fun hater for what it’s worth. But can’t deny the fact that 1% a week means someone is on the wrong side (sellers).
Unless that changes or the price goes high enough that it lacks impact over a long period of time.”
PUMP is trading at $0.00385 at time of writing. The 94th-ranked crypto asset by market cap is up more than 13.5% in the past 24 hours.
Pentoshi also argues that the Ethereum (ETH) challenger Solana (SOL) is getting ready for another leg up following a multi-month correction.
The pseudonymous trader says Solana is putting pressure on bears by repeatedly knocking on the $210 level, while also showing strength in its Ethereum pair.
“So far so good.
On the USD pair, it’s starting to squeeze as it’s making rapid higher lows applying pressure to sellers so that should hopefully pop off soon.
The ETH pair is now up close to 10%. This was another solid rotation and still quite early with their dats (digital asset treasuries) similar to ETH but not the same scale, of course.
We’ve had some pretty solid rotation from BTC to ETH, and now into SOL.”
SOL is trading at $209.68 at time of writing. The 6th-ranked crypto asset by market cap is up more than 6% in the past day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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