Pump.fun is suddenly back on traders’ radars. After weeks of sluggish action and a near 50% drop, PUMP price is once again showing signs of life. It’s one of the top three gainers in the market at writing, up more than 8% in 24 hours, with trading volume jumping by 22%.
That kind of surge usually signals renewed interest, especially from short-term traders looking to catch a reversal.
Despite the setbacks of recent weeks, Pump.fun remains one of the most talked-about meme-driven platforms on Solana. And while it’s far from risk-free, there are a few real catalysts that could help explain this comeback.
Here are the three reasons behind the move.
What you'll learn 👉
$138 Million Buyback Spree
Pump.fun has been on a massive buying spree. Since July, it has repurchased $138.17 million worth of PUMP tokens at an average price of $0.0046, making it part of a wider $1.4 billion buyback wave sweeping across the crypto industry this year.
Now, those tokens are technically sitting at a loss, around 16% below the buyback price, but that doesn’t change the bigger picture.
These repurchases show strong conviction from the team, signaling that they’re serious about long-term stability and market confidence.
Of course, the short-term price doesn’t fully reflect that effort yet. PUMP price is still down near 48% for the month, and so there is reluctance on the part of traders to believe buybacks can make up for overall market weakness.
The more tokens the treasury absorbs, however, the tighter supply becomes, and that usually lays the groundwork for more robust rebounds later on.
The DOTA 2 Hack and Reputation Risks
Not everything has been smooth sailing. Pump.fun was caught in the middle of a cringeworthy controversy last week when hackers took over the official DOTA 2 YouTube channel and promoted a fake Pump.fun-launched memecoin called dota2coin.
The token crashed 22% in minutes, and on-chain metrics revealed 98% of supply were locked in a single wallet.
It was a classic pump-and-dump, and while Pump.fun itself wasn’t behind it, the event raised serious questions about the platform’s open-access model.
The same design that makes it so easy to launch tokens and go viral also leaves the door wide open for abuse.
Incidents like these can hurt trust, both from new users and regulators watching the space. Pump.fun isn’t directly responsible for these scams, but repeated associations with them could damage its credibility and slow down real adoption.
Read Also: Analyst Warns “Big Crash Coming” for Bitcoin (BTC), But…
Technical Recovery Signals
Despite the drama, the charts are starting to turn more optimistic. On October 15, PUMP price bounced from $0.0037 to $0.0041, gaining about 8% and flashing its first real sign of accumulation in weeks.
The Chaikin Money Flow (CMF) flipped back above zero, showing fresh inflows, and price action is now testing the 20-day EMA, which often serves as an early trend reversal line.
If that level holds, momentum could build fast. Bearers are awaiting a breakout over $0.0048, which would risk on up to $0.0055, some 40% higher from here.
However, the sentiment is still weak. The Fear and Greed Index is 27, so most traders are still afraid to get back in.
But such a climate is often where the strongest recoveries begin. With Bitcoin dominance at approximately 58.7%, altcoins like PUMP trail behind, but once capital starts rotating out of BTC, coins showing visible activity and community backing can be the first to make gains.
Final Thoughts
Pump.fun’s price latest move looks like more than just a random bounce. Between its ongoing $138 million buyback program, a modest technical recovery, and growing attention from traders, the foundations for a rebound are starting to form.
That said, reputation remains a weak spot. If the platform can tighten its security and distance itself from scam projects, confidence could return quickly, especially with Solana’s meme ecosystem heating up again.
For now, Pump.fun feels like it’s walking a fine line between redemption and risk. But one thing’s clear: traders are watching again, and that alone could be the spark PUMP price needs to stage its comeback.
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