Pump.fun (PUMP) is under bearish pressure after dropping 7.91% in the past 24 hours. The token is trading at $0.005142, driving its marketplace capitalization downwards to $1.82 billion, a drop of 7.92%, reflecting cautious sentiment among investors after witnessing its recent correction period.
A recent tweet by Crypto Patel was causing bullish excitement as it referred to the asset as a 10x play. Patel highlighted how the token is already holding a crucial support level. Holding on to this base would create opportunities for huge upward movement and was causing excitement among observers monitoring near-term price activity.
Patel saw two possible paths for the altcoin. If support remains firm, an “epic upward move” could unfold with long-term targets in the area of $0.10. A breakdown would, however, switch focus to $0.004, which is considered a strong accumulation point where investors could find fresh buying opportunities.
According to Patel, the ideal range for accumulation rests between $0.0040 and $0.0038. That region presents investor opportunities for rebounding.
Also Read | Ethereum (ETH)’s Winning Streak: Why August and September Lead the Gains?
PUMP drew significant attention earlier this year after it released a live-streaming feature. That move triggered a strong rally before it corrected, presenting investors with another “buy the dip” opportunity. Analysts note that such dips have frequently attracted renewed interest, especially as the asset mirrors Bitcoin’s movements during volatile phases.
Pump.fun finds itself listed in DeFiLlama among the top-grossing platforms whose estimated revenue reaches nearly $300 million by mid-2025. While other platforms earn largely through fees, PUMP distributes revenue directly to token holders.
For Solana investors, the asset presents a high-potential trade with small-cap dynamics compared to SOL itself. Market history would suggest that Solana drops tend to elicit new buying from related projects. This would provide the altcoin with some extra support as Solana’s use cases continue to expand across decentralized apps and new utility uses.
Speculation is rife regarding PUMP’s eventual long-term trajectory. Crypto GEMs predicted the token would eventually reach a $10 billion market cap and considered the current range a best buy point. Speculative as it is, hope among communities cites an increasing thirst for high-risk, high-reward plays in the nascent crypto space.
If PUMP’s market cap reaches $20 billion, it would provide investors with a 10x return. A $40 billion market cap would move potential returns closer to 20x.
Also Read | Shiba Inu (SHIB) in Focus: Investors Await Next Move as Momentum Builds Toward $0.000014
Also read: Australia Moves to Regulate Crypto Like Traditional Finance
