Pump.fun ($PUMP) Raises $600M in 12-Minute ICO – But Can Bulls Breach $0.00670?

Pump.fun ($PUMP) is rewriting the memecoin playbook. The token is on the brink of recovery just days after its explosive July 14 ICO on Solana, which sold out in 12 minutes and raised $600M.

Is $PUMP Set for a Major Breakout After $600M ICO?

Pump.fun’s launch has positioned it as a transformational force in the memecoins and DeFi environment. Launched on the Solana blockchain, $PUMP is currently trading at $0.006463, representing an 18% gain in just 24 hours.

On July 14, 2025, Pump.fun launched its Initial Coin Offering (ICO) for $PUMP, selling 15% of the total supply at $0.004 per token. In just 12 minutes, the offering raised $600 million, instantly placing the token on the radar of traders and analysts alike.

$PUMP has a market cap of $2.29 billion and a fully diluted valuation (FDV) of $6.47 billion and is already competing with some of the most popular memecoins in the market, ranking 46 on CoinMarketCap.

The project has also seen a daily trading volume of $1.14 billion, has over 48,000 active on-chain holders, and has a total circulating supply of 354 billion tokens.

Analysts believe $PUMP is headed for a milestone price of $0.10, indicating even more bullish momentum.

At its core, Pump.fun’s protocols make it radically easy for anyone to create and launch a memecoin, with no coding and no technical barriers. This inclusivity fuels mass participation and experimentation.

Every token, including $PUMP, utilizes an automated market-making (AMM) and bonding curve model, allowing prices to auto-adjust based on supply and demand, thereby granting instant liquidity and real-time discovery.

But more importantly, Pump.fun solves one of memecoin culture’s biggest problems: rug pulls.

When a community-created token reaches a market cap of around $69,000, liquidity is automatically added to decentralized exchanges (such as Raydium), and the LP tokens are burned. This removes the creator’s ability to drain funds, protecting investors from sudden losses.

Shortly after launch, Pump.fun received 187,770 $SOL (over $30 million) from fee wallets, generated from its over $700 million in total platform revenue, and still holds 69,420 $SOL worth $11.48 million, and is likely to buy additional $PUMP.

118,350 $SOL was channeled into buying back 2.99 billion $PUMP tokens. This not only stabilized price action but also showed the team’s commitment to longer-term token sustainability and value growth.

In a move to enhance passive earning opportunities and market exposure, $PUMP is now live on Bitget with a Launchpool event running from July 15–18, 2025. While the Bitget Launchpool and buybacks fuel bullish sentiment, traders are now closely watching key price levels for confirmation of a sustained rally.

Inside PUMP’s Retracement Rally: Volume Exposes the Battle at $0.00670

The PUMP/USDT hourly structure shows a market steadily retracing into deeper Fibonacci levels after a pronounced decline from the $0.007159 high.

The rebound from the $0.004796 low hasn’t been rushed—instead, it’s been a steady climb. Price first reclaimed the 0.382 Fib level near $0.005698, then pushed past the 0.5 pivot at $0.005977 before settling into the 0.618 zone around $0.006256.

However, what is noticed here is that every attempt to push higher has stalled near the 0.786 resistance level ($0.006693).

Repeated rejections there hint at a stubborn ceiling that buyers haven’t smashed through yet.

Right now, price is caught between the upper barrier and mid-range supports, leaving the market in a tug-of-war. The question isn’t just about momentum; it’s whether bulls can actually hold this ground.

The volume footprint on the 15-minute chart reflects this contest between the two sides.

Large green clusters, such as the candle with 123.68 million buys against 74.6 million sells, and the strong thrust of 234.97 million buys over 78.44 million sells, reveal moments of heavy accumulation that drove the price upward.

In contrast, intervals with net red deltas, such as -74.15 million and -64.32 million, show aggressive selling that absorbed momentum and checked the rally.

These surges and rejections define liquidity zones that may serve as reference points for upcoming sessions, particularly when strong buying footprints coincide with prior price supports in the $0.00620–$0.00640 region.

At this stage, the structure suggests a retracement rally operating inside a broader corrective phase, with price attempting to build higher lows against significant resistance.

Until a decisive break above $0.00670 occurs, the market remains range‑bound within these Fibonacci markers.

Momentum is present but tempered by visible supply overhead, and the volume data shows that buyers are active but not yet dominant enough to overwhelm the offers clustered around the 0.786 retracement.

How price behaves on its next test of that resistance, and whether buying deltas remain firm or fade, will reveal whether this rally transitions into a larger impulsive leg or simply completes a retracement before further consolidation.

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