The PUMP token price has entered a volatile phase after sliding sharply from recent highs, raising questions about whether its September rally can extend. Despite aggressive token buybacks and ecosystem growth, profit-taking by whales and broader memecoin weakness have weighed heavily on PUMP crypto’s short-term outlook.
PUMP Token Price Today Extends Decline
The PUMP price today sits well below its recent peak of $0.0089, marking a decline of more than 20% this week and a 4.82% intraday decline to trade at $0.0068. This left Pump.fun’s market cap at $2.53 billion, from $3.31 billion high.
Short-term weakness comes despite PUMP still being up 135% over the past 30 days. On the Pump.fun price chart, the token now rests near a key support zone around $0.0067, which traders are closely watching to determine whether the latest drop is a breather or the start of deeper corrections.
Whale Selloff Adds Pressure to Pump.fun Price Chart
Fresh on-chain data highlights why selling pressure has intensified. Lookonchain reported that smart whales have been dumping large holdings of PUMP to secure hefty profits.
For instance, address 6AkVuG sold 466.74 million PUMP for $3.27 million, netting a 149% profit. Similarly, wallet 58teLV sold 272.24 million PUMP for $1.95 million, securing a 133% gain.
This wave of profit-taking has added to fragile sentiment, leaving the PUMP token price at risk of testing lower support levels, such as $0.0049.
The selloff aligns with broader memecoin weakness, where leading tokens like Dogecoin, Shiba Inu, and PEPE have also posted notable double-digit declines in the last 24 hours.
Buyback Program Remains a Key Support for PUMP Crypto
Despite the pullback, the fundamentals behind PUMP crypto remain constructive. Pump.fun continues to allocate nearly all of its platform revenue toward token buybacks, a major driver of earlier gains.
Since July, more than $97.4 million worth of PUMP has been repurchased, removing 7.051% of the circulating supply.
PUMP Price Prediction Hinges on Key Support Zone
From a technical perspective, the September rally began from a tilted double bottom formation, but momentum now faces a critical phase. If PUMP price holds the $0.0067 level, the PUMP price forecast points to another attempt at the $0.01 target. However, slipping below support would open the door to a retest of deeper levels.
Much depends on whether buybacks continue to offset selling pressure and if renewed speculative appetite returns to the memecoin sector. With the Federal Reserve’s recent rate cut fueling a “meme coin hunting season,” risk-on behavior could still provide the tailwinds needed for the next leg higher.