TLDR
- PUMP price rose 17-20% in 24 hours, pushing its weekly gain to 38%.
- Pump.fun has spent over $466 million buying back and burning PUMP tokens.
- Pump.fun’s weekly revenue of $15.16 million passed Hyperliquid’s $15.06 million.
- PUMP hit resistance near $0.0055 after touching a high of $0.005366.
- The SEC issued guidance on September 25 about buyback announcements and token classification.
Pump.fun’s PUMP token climbed 17% to $0.00519 in the past 24 hours. The token’s weekly gain now stands at 38%, even as the wider crypto market slipped 1.37% to $2.87 trillion.
Bitcoin traded near $84,000 during the same period. Ethereum sat around $2,677, and XRP held near $1.50.
The rally is tied to Pump.fun’s buyback program. The platform sends about half its revenue toward purchasing PUMP tokens, then burns them permanently.
Pump.fun bought back $1.14 million worth of tokens on September 27. That followed a $1.46 million purchase the day before.
Buybacks Cross $460 Million
In total, Pump.fun has spent more than $466 million on buybacks. That has removed close to 17% of the total token supply from circulation.
New token launches on the platform jumped over 25,000% in a single day. This activity fed more revenue into the buyback program.
Analyst Austin Barack pointed to the scale of this spending in a post on X. He noted a $1.5 million buyback day tied to $3 million in daily revenue, and said the PUMP chart was breaking out of its recent range. Barack added that social trading looked early in its cycle, and that surpassing last cycle’s revenue peaks could bring $10 million-plus revenue days.
Pump.fun also passed Hyperliquid in weekly revenue, according to DefiLlama. Pump.fun earned $15.16 million over seven days, just ahead of Hyperliquid’s $15.06 million.
That places Pump.fun third among tracked crypto apps. Tether led with $121.64 million, followed by Circle at $50.40 million.
Regulators added another angle to the story. The SEC issued staff guidance on September 25 covering buyback announcements for nonsecurity tokens on working networks.
The guidance said such announcements do not automatically imply managerial efforts under securities law. It does not classify PUMP or give Pump.fun any legal exemption.
Price Tests Key Resistance Levels
PUMP touched $0.005366 on September 28 before pulling back. It later corrected to $0.004881, a drop of 5.32% on the daily candle.
That pullback followed a 20.51% move up from the $0.004500 zone. Traders now watch $0.0045 as the nearest support level.
Analyst Altcoin Sherpa shared his view on X, saying PUMP still looked strong over the past few days. He called it a key indicator for the broader market, noting it had previously led rallies and pullbacks, and said a strong second leg here would be a good sign for other tokens too.
$PUMP still looking very strong last few days, this is a key area. I always thought that pump was a key indicator for how the rest of the market would do given it led previously and also pulled back / consolidated. if it has a strong second leg here, I think that's very fruitful… pic.twitter.com/kwuQT5smsA
— Altcoin Sherpa (@AltcoinSherpa) September 28, 2026
Derivatives activity also picked up. Volume on PUMP derivatives rose 198.47% to $1.11 billion, while open interest increased 17.26% to $429.46 million.
Long liquidations reached close to $1.03 million. Short liquidations totaled about $486,010 in the same period.
Spot markets showed a different pattern. PUMP recorded roughly $2.32 million in net spot outflows, meaning more tokens left exchanges than entered them.
The 14-day Average True Range rose to 0.000475, pointing to wider price swings. The RSI cooled to 60.77 after peaking at 65.73, though it stayed above its 54.70 moving average.
A four-hour close above $0.0052 would put resistance at $0.0055 in focus. Clearing that level could open the path toward $0.0060.
If PUMP falls below $0.0048, traders expect a retest of that level next. A further drop could bring the $0.0045 support zone back into play.
