Following a significant price escalation, activity around the PUMP token has surged, with substantial movements in major wallets being reported. According to analysis by Lookonchain, two primary wallets have amassed a total of 572.56 million PUMP tokens, equating to an acquisition worth approximately $3.6 million.
Key Wallets Drive Recent Accumulation
Lookonchain has identified ‘netherlol’ as a major investor, purchasing about 383.34 million PUMP tokens valued at roughly $2.4 million. This marks the first acquisition by this wallet in over a year, signaling a renewed interest. Another significant wallet, ‘GnZqfY’, withdrew 189.22 million PUMP tokens from the MEXC exchange, valued at approximately $1.18 million. However, it remains unclear whether these tokens will be held long-term.
The accumulation of 572.56 million PUMP tokens by these two substantial wallets highlights the renewed focus on large investor movements following the token’s recent price jumps.
This accumulation, worth around $3.58 million, represents nearly 3% of PUMP’s $121.4 million trading volume. While not significant enough to dictate price direction alone, it underscores a short-term surge in interest.
Increased Activity in Price and Futures Trading
Over the past 24 hours, PUMP experienced a price increase between 17.5% and 18%, trading at $0.006426. The token has risen approximately 46% over the past week, outperforming the broader cryptocurrency market. Over a longer period, the upward trend is even more pronounced. PUMP has surged nearly 294% over the past 90 days, exceeding a 235% increase since the start of 2026. This momentum has propelled its market capitalization to around $3 billion.
Activity in futures markets has outpaced that of spot trading, with over $1.04 billion in futures volume over the past 24 hours, compared to $121.39 million in spot volume. The open interest, which indicates the total value of outstanding contracts, was recorded at $672.28 million, reflecting the high level of leveraged interest.
Concept Clarification: Open interest refers to the total value of all pending contracts in futures and options markets. Liquidation occurs when a position is automatically closed by the exchange due to insufficient collateral.
Liquidations and Historical Trades Under Scrutiny
Data from CoinGlass revealed approximately $3.14 million in PUMP positions were liquidated in the last 24 hours, with short positions constituting about 78% of these liquidations. This indicates that investors betting against the recent price rise faced increased pressure.
The PUMP futures volume surpassing the spot market by approximately 8.6 times suggests that price volatility could be exacerbated by leveraged trades.
PUMP’s volatile price movements have previously resulted in substantial losses. Lookonchain reported that after an abrupt price drop on October 3rd, two significant investors holding a combined 707.6 million PUMP faced liquidations totaling about $3.61 million. Recently, PUMP has drawn attention from major on-chain investors. Lookonchain noted that Machi Big Brother has conducted 10 profitable transactions involving PUMP recently, including a long position closed on September 30th that yielded approximately $827,000 in profit.
