Pump.fun Bulls Gear Up As Chart Setup Points to 50% Rally

The cryptocurrency Pump.fun (PUMP) is showing signs of a potential price increase of 50%, targeting a price of $0.009975. This prediction is based on a Fibonacci extension setup on its price chart. Pump.fun's treasury wallets have been actively buying PUMP tokens, spending $19.26 million to acquire 2.99 billion PUMP, and have over $30 million reserved for future buybacks, which can drive the price up by reducing the available supply. While a large investor recently sold their PUMP tokens for a 68% profit, the price has remained stable, indicating continued demand. An Elder-Ray Index also suggests that buyers are currently stronger than sellers in the market. The price could face resistance at $0.0076, and the bullish outlook would be invalidated if the price falls below $0.0062.