$PUMP Soars 24% on Buyback Frenzy – But Can Its Massive Treasury Prevent Another Crash?

Key Points

1. $PUMP's price surged 24% following an aggressive buyback strategy, but doubts persist about the sustainability of this rebound given its post-ICO downturn.

2. The platform's ICO raised $500 million in 12 minutes, selling 150 billion tokens at $0.004 each, but the token's price later fell below the ICO price amid heavy selling pressure.

3. Pump.fun launched a DEX that generates 50% of all fees, with a portion allocated to the team and buybacks, but weekly fees are trending downward.

4. The platform partnered with OKX to launch a 'Trade & Earn' program to rekindle activity, but on-chain data shows mixed signals regarding market stability.

5. A double bottom formation suggests a potential technical breakout, but failure to hold key support levels could lead to further price declines.