TLDR:
- PUMP coin price gained 15% to $0.006369 on October 4. Whale activity accompanied a rally that outpaced the wider crypto market.
- Two wallets moved 572.56 million PUMP, worth about $3.58 million. One purchased tokens, while another withdrew holdings from MEXC.
- PUMP open interest rose 25.77% to $669.62 million in an earlier reading. Rising positions alone do not establish bullish conviction.
- Positive MACD momentum keeps $0.007 in focus beyond $0.00655 resistance. A break below $0.006 could expose the $0.0055 rebound area.
The PUMP coin price rose 15% to $0.006369 on October 4 as large wallet activity accompanied a market recovery. Market data valued the Pump.fun token at approximately $2.95 billion, placing it 35th among tracked cryptocurrencies.Â
The wider crypto market gained 0.77%, lifting its total capitalization to about $2.9 trillion. Bitcoin held above $85,000, while Ethereum traded near $2,699 and XRP reached $1.50.
Whale accumulation drew attention after two wallets moved tokens worth roughly $3.58 million. Derivatives positions also expanded sharply, while positive MACD readings kept $0.007 in focus. That target remains conditional on PUMP clearing nearby resistance and preserving support.
Whale Accumulation Expands as Two PUMP Wallets Move $3.58M
According to on-chain data, the wallet known as Netherlol purchased 383.34 million PUMP tokens, worth approximately $2.4 million. The transaction marked its first PUMP purchase in more than a year, according to the blockchain tracker.
WHALES ARE ACCUMULATING PUMP!
netherlol bought 383.34 million solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn, about $2.4 million, after more than a year on the sidelines, per @lookonchain.
A new wallet also pulled 189.22 million… pic.twitter.com/g7p0roWgr7
— Crypto Banter (@crypto_banter) October 4, 2026
A newly created wallet, GnZqfY, separately withdrew 189.22 million PUMP tokens from MEXC. Lookonchain valued that transfer at $1.18 million and recorded it seven hours before its update.
Together, the purchase and withdrawal involved 572.56 million tokens. Their combined value reached approximately $3.58 million, adding to attention around whale accumulation.
However, the two transactions carry different implications. A purchase records additional buying, while an exchange withdrawal can simply relocate tokens acquired earlier.
The PUMP coin price advanced alongside these wallet movements, but their timing does not establish a causal connection. Lookonchain did not disclose why Netherlol returned or how long either wallet intended to hold its tokens.
Exchange withdrawals can move assets into private custody, reducing the balance available on that exchange. They do not establish permanent removal from circulation, since holders can transfer tokens back later.
For the PUMP coin price, continued whale accumulation could support demand if purchases persist. These reported transfers alone cannot establish that pattern or explain the wider recovery.
PUMP Coin Price Faces Resistance as Open Interest Rises
CoinGlass figures show the PUMP open interest rising 25.77% to $669.62 million. Derivatives trading volume increased 3.64% to approximately $1.08 billion over the reported period.
Liquidation data shows $390,000, with short positions accounting for most losses. A later CoinGlass check showed approximately $3.22 million in liquidations across 24 hours.
The PUMP coin price maintained a rising channel on the four-hour timeframe and recovered to the area around $0.006. Its relative strength index stood at 65.77, below the conventional overbought threshold of 70.
The MACD line measured 0.000241, exceeding the signal line at 0.000189. The histogram registered a positive 0.000052, indicating improving momentum after the recent decline.
These readings support a constructive technical interpretation, although momentum indicators cannot confirm that a breakout will continue. Immediate resistance stands near $0.00655, ahead of the larger $0.007 level.
A sustained move above that nearer barrier would strengthen the case for another advance. From $0.006369, reaching $0.007 would require an increase of approximately 9.91%.
The PUMP coin price could instead revisit $0.006 if it fails to clear resistance. Losing that support and the ascending channel would expose the recent rebound area around $0.0055.
The post PUMP Coin Price Gains 15% as Whales Move $3.58 Million in Tokens appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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