According to Lookonchain data reported by AMBCrypto, a significant whale returned after a year of dormancy and began accumulating PUMP tokens. The whale spent 5,000 SOL worth $358,000 to purchase 242.66 million PUMP tokens. This substantial purchase signals growing market confidence and suggests expectations of further gains, as the whale appears to be shifting away from SOL toward PUMP as a better investment option. The whale's return represents a notable shift in high-net-worth investor sentiment toward the memecoin platform.
As reported by AMBCrypto, PUMP climbed to $0.0015 on June 28th driven by renewed market participation, though the altcoin subsequently retraced to a local low of $0.0013. Over the same period, trading volume surged 20%, signaling heightened market activity as traders took profits. Exchange activity also reflected this growing demand, with the altcoin's Spot Netflow turning negative after earlier rising to positive. At press time, the Spot Netflow was -$688,000, a significant drop from $1.4 million, suggesting that profit-taking which caused the market pullback has already eased. Such market behavior has historically preceded increased scarcity, which has boosted price performance in similar scenarios.
As reported by AMBCrypto, the token's holder count reached a record 122,440, with retail investors accounting for roughly 38% of holders. Between June 26th and the current period, investors added approximately $15.7 million to Total Value Locked (TVL), lifting it to $217.7 million. Additionally, PUMP has recorded a significant jump in Daily Active Addresses to 9.2k, the last time such high activity was recorded nearly a month ago. These metrics suggest that network activity is also recovering alongside the growing investor participation, typically strength in fundamentals that has preceded better price performance on asset charts.
According to data from Artemis reported by AMBCrypto, Pump.fun continues to underperform across key metrics. Launchpad volume and fees generated by memecoins fell 86.7% and 35.6% respectively to $5.8 million and $587,200. Protocol revenue also declined 23% to $147.8 million, reinforcing signs of slowing activity. These declines suggest user activity remains weak despite improving investor sentiment, making it harder for the recent price recovery to gain stronger fundamental support. Lower activity reduced fee generation and limited protocol utility, which could cap the current gains.
Despite the recovery in demand and structural strength, market momentum remains weak according to technical indicators. The Relative Strength Index (RSI) is rising but remains below 50, suggesting that although buyers have returned, demand remains insufficient to trigger an uptick. The DMI indicator further confirmed this market momentum, with ADX, ADXR, and –DI hovering near 21, while +DI was around 18. This setup indicates that both upward and downward momentum are significant, suggesting sideways movement is likely. If that plays out, PUMP could trade between $0.0012 and $0.0015. However, if the rising whale demand materializes and positively impacts the market, the altcoin could flip $0.0015 and eye $0.0016.
