The price of the Pump.fun (PUMP) token has surged by over 11% in the last 24 hours On-chain data shows large whales, including GSR, are accumulating millions in PUMP tokens The rally is also supported by a bullish flip in the funding rate and a $22.8M buyback program The Pump.fun (PUMP) token has caught a bid, jumping over 11% in the last 24 hours to trade around $0.00322 on Tuesday. This move is backed by a combination of bullish technicals, a strong token buyback program, and clear signs of accumulation by large whale traders. Three Key Drivers Behind the PUMP Rally A look at the data reveals three powerful factors fueling the renewed bullish sentiment for PUMP. Rising Conviction from Whale Traders First, whale traders are accumulating. In the past 24 hours, on-chain data shows a sharp uptick in demand, with the crypto venture firm GSR withdrawing $4.6 million worth of PUMP from an exchange. JUST IN: Is @GSR_io accumulating $PUMP ? The firm withdrew $4.6M worth of $PUMP tokens from @Bybit_Official in the last 15 minutes, according to onchain data. pic.twitter.com/GUMkLKzv4Z — SolanaFloor (@SolanaFloor) August 4, 2025 Yet another whale deposi… The post On-Chain Data Reveals the Real Driver of PUMP’s 11% Rally: Whale Buys appeared first on Coin Edition .
