PUMP, the native token of the Pump.fun decentralized exchange, has risen 1.1% in the past 24 hours, outperforming the broader crypto market. This uptick follows the launch of a new feature on Pump.fun that allows creators to share trending coins with their followers, potentially increasing social engagement and trading activity on the platform. The DEX's trading volume surged to $84.34 million recently, reflecting heightened interest. Despite the positive price movement, derivatives data shows mixed sentiment. PUMP's open interest has decreased by 2% to $237.69 million, and the funding rate has turned negative at -0.0032%, indicating a prevalence of short positions. Currently trading at $0.0029, PUMP is approaching the psychological level of $0.0033, with technical indicators suggesting a bullish trend. However, a drop below the 20-day EMA at $0.002577 could lead to further declines.
PUMP Rises 1.1% as Pump.fun Launches Creator Callout Feature
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