Pump.fun’s PUMP token moved close to the $0.006 level after rising about 14% over the past 24 hours, extending a short-term rally that has drawn attention to the project’s latest buyback and burn activity. The move comes as market indicators cited in the source article pointed to continued momentum, with the 14-day relative strength index near 67.65 and MACD remaining positive.

On Sept. 29, the project said it spent roughly $1.02 million to repurchase and burn 187.1 million PUMP tokens. That transaction, carried out with around 8,500 SOL at an average price near $0.005446, added to a much larger running total of buybacks that Pump.fun says now stands at about $468.44 million.

Price tests a key resistance area

The token’s advance has brought it back to an immediate technical hurdle around $0.006. According to the source material, a move above that level would remove the nearest resistance and could keep the current momentum intact.

If the rally fades and PUMP fails to hold recent gains, the same report identified $0.005 as the next level in focus, with earlier support sitting around $0.004. Those levels frame the near-term range as the market weighs whether the latest strength can continue.

Another buyback adds to a large burn total

The latest repurchase on Sept. 29 was presented as a buyback-and-burn event, reducing circulating tokens by 187.1 million PUMP. The average executed price was reported at about $0.005446, for a total outlay of around $1.02 million funded with roughly 8,500 SOL.

Pump.fun said cumulative buybacks have now reached approximately $468.44 million. It also said 168.89 billion PUMP have been burned so far, which the project described as about 16.889% of the original token supply.

Treasury transfers draw attention, but causality is unclear

The source article noted that treasury activity happened alongside the token’s price increase, including SOL movements to Kraken. Even so, it also stressed that it remains unclear whether those transfers had any direct role in triggering the rally.

That uncertainty is important because the price move and the treasury transactions occurred in the same window, but the available information does not confirm a causal link. The project also emphasized that its buyback program is separate from user-tac.

Broader platform expansion remains part of the story

Beyond the token’s short-term price action, Pump.fun is also described as pushing beyond its original Solana base. The platform is offering cross-chain trading options alongside low-fee access, with the source article citing estimated Solana fees of 0% and cross-chain fees of about 0.1%.

According to the report, the goal is to support token distribution on Pump.fun while also giving users access to assets from other chains and launchpads. That broader product effort provides additional context for the attention around the token, even though the immediate market focus remains on the latest burn and whether PUMP can decisively move above $0.006.

What comes next

The next confirmed marker is whether PUMP can break and hold above $0.006 after the recent 14% advance. If it does not, the levels highlighted in the source article suggest traders may look back toward $0.005 and then the earlier $0.004 support zone.

On the fundamental side, the clearest data points remain future buyback-and-burn disclosures and any further treasury updates from the project. For now, the latest repurchase, the rising burn total, and the unresolved questions around SOL transfers form the core of the current story.

Source: crypto.news