Large Purchases for PUMP by Whales, Price on the Rise

Recent developments in the cryptocurrency market have led to a renewed interest from investors. As a result of whale buying movements, PUMP price increased by 12 percent today.

According to Spot On Chain data, the whale account “BGSLv” purchased approximately 517.97 million PUMP for 2 million dollars worth of USDC about 16 hours ago. The average purchase price was around 0.0039 dollars, and this position is currently around 140 thousand dollars in profit. Such large purchase transactions increase investor interest in PUMP and support price movements.

Another notable development was reported by Lookonchain. One of the whale accounts, “0x3024,” deposited 3 million dollars worth of USDC into the Hyperliquid exchange. After this transaction, a 2x leveraged long position was opened for 735 million PUMP. The liquidation level for this transaction was set at 0.00129 dollars. Both Spot On Chain and Lookonchain sources indicate that whales are repositioning on PUMP and developing strategies to influence market movements.

Despite the general stagnation in the meme coin market recently, these large purchases seem to have strengthened short-term bullish expectations for PUMP. Investors should carefully monitor the active movements of whales and assess how such purchases affect market dynamics.

Ultimately, tracking these significant purchases driven by whales may be an important strategy for investors. Especially for meme coins like PUMP, it is crucial to focus on market trends and critical price levels to better understand price fluctuations.