Pump. Fun’s PUMP token jumped 15% to around $0.006369 on October 4, drawing attention as several large wallets increased their exposure. The token’s market capitalization stood near $2.95 billion, placing it around 35th among cryptocurrencies by market value.
The move also came with relatively limited liquidation activity. About $390,000 in PUMP positions were liquidated, with short sellers taking most of the losses as the token moved higher. PUMP’s advance was significantly stronger than the broader crypto market, which gained roughly 0.77% during the same period.
The wider market recovery pushed total crypto market capitalization to approximately $2.9 trillion. Bitcoin remained above $85,000, while Ethereum traded near $2,699 and XRP reached around $1.50.
Two Wallets Move $3.58 Million Worth of PUMP
Large-wallet activity has become one of the main talking points behind PUMP’s recent move.
According to Lookonchain, a wallet known as “netherlol” bought 383.34 million PUMP tokens worth roughly $2.4 million. The purchase was reportedly the wallet’s first PUMP acquisition in more than a year.
Another wallet, identified as GnZqfY, withdrew 189.22 million PUMP tokens from MEXC. The withdrawal was valued at approximately $1.18 million and took place about seven hours before Lookonchain’s update.
Combined, the two transactions represented around 572.56 million PUMP tokens, worth approximately $3.58 million at the time.
🚨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
PUMP was reportedly up about 20% over a 24-hour period, reaching a new local high after the previous day’s long-position liquidations. Increased activity from large holders coincided with the rebound, although the transactions alone do not prove that whale buying caused the price increase.
There is also no confirmed explanation for why the Netherlol wallet returned to PUMP after more than a year. Likewise, the MEXC withdrawal does not necessarily mean the tokens were purchased as part of a new bullish position.
PUMP Open Interest Climbs to $669 Million
Activity in PUMP’s derivatives market also increased.
Trading volume rose 3.64% to approximately $1.08 billion, while open interest jumped 25.77% to $669.62 million based on the supplied figures.
The sharp increase in open interest means more derivative positions remained open compared with the previous reading. However, open interest by itself does not show whether traders are predominantly betting on a further rise or a decline. No options data was included in the available snapshot.
Can PUMP reach $0.007?
From a technical perspective, PUMP extended its recovery inside an ascending channel on the four-hour chart, reaching around $0.006365.
Momentum indicators also remained supportive. The RSI was at 65.77, below the commonly watched 70 level that can indicate overbought conditions.
The MACD line stood at 0.000241, above the signal line at 0.000189. Its histogram was positive at 0.000052, suggesting that upward momentum had returned after the recent pullback.
Price candles continued moving higher within the ascending channel and reclaimed the area around $0.006.
The next major resistance sits near $0.007. From the referenced price level, that would represent an additional gain of roughly 9.98%.
For PUMP to reach that target, buyers would need to maintain the current recovery and keep the price above the reclaimed $0.006 area.
There is also a downside scenario to watch. A rejection near $0.00655 could send PUMP back toward the $0.006 support zone. Losing that level, together with a breakdown from the ascending channel, would weaken the current recovery structure and could bring the recent bounce area around $0.0055 back into focus.
