- Pumpfun trades near $0.003014 with a daily gain of 3.85% and lower volume.
- Lookonchain reported 436.5M USDC moved from Pumpfun wallets since October 15.
- Co-founder Sapijiju called the Lookonchain report “complete misinformation.”
Pump.fun’s token (PUMP) traded at $0.003014 on Thursday, rising 3.85% in 24 hours based on CoinMarketCap. Despite lower volume, the price stayed above $0.0029. Traders are watching the $0.002896–$0.00311 range as a breakout zone, with buyers holding support. Co-founder Sapijiju denied claims of USDC cash-outs by on-chain analysts.
Co-Founder Responds to On-Chain Wallet Report
A recent post from on-chain tracker Lookonchain claimed Pumpfun wallets had withdrawn at least 436.5 million USDC since October 15. According to the tracker, these funds were moved to a crypto exchange wallet.
The report prompted a response from Pumpfun’s anonymous co-founder, known as Sapijiju. In a statement shared across social media, Sapijiju denied the claims and said, “This is complete misinformation.” The co-founder maintained that the team did not profit from the project’s initial coin offering.
The conflicting information has sparked debate in the trading community. Some users are analyzing wallet data to validate the report, while others are waiting for further clarification from the project team.
Traders Watch Breakout Structure and Resistance Levels
Technical charts shared by traders show PUMP moving above a descending trendline that has held for several weeks. Analyst posted by LLuciano_BTC suggests a possible breakout, with a projected upside target around $0.009000 if buying pressure continues.
Another trader, Zayyad_Yazeed, posted a one-hour PUMPUSDT chart on Bybit showing consolidation near $0.00297. Support is marked at $0.00289, while short-term resistance lies near $0.00340. If the support holds, traders expect further movement toward that level. A break below the support could lead to a drop toward $0.00260.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
