PUMP,  the native token that powers the Solana-based memecoin launchpad Pump.fun, has surged nearly 25% in the past 24 hours.

The altcoin briefly touched an all-time high of $0.008456 earlier today, highlighting the intensity of the rally. With a climbing bullish bias, PUMP appears poised to register further gains as traders enter the new week.

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PUMP’s Rally Backed by Explosive Market Interest

PUMP’s double-digit rally has been accompanied by a rise in the token’s daily trading volume. Per Santiment, this has exceeded $1.16 billion, up by 132% in the past 24 hours. This highlights the growing market interest in the altcoin.

When an asset’s price and trading volume surge, it signals strong conviction among market participants. Therefore, PUMP’s double-digit rally paired with a 132% spike in daily volume indicates that buyers are aggressively entering the market.

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This trend often reflects genuine demand and could fuel further upward momentum in the coming sessions. 

Furthermore, readings from momentum indicators observed on the PUMP/USD one-day chart support this bullish outlook. For example, its Aroon Up is 100%, confirming the rally’s strength. 

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Author: Abiodun Oladokun