Crypto trader Ansem's recent purchase of the Pump.fun (PUMP) token pushed its price to the highest point in two months on Monday, continuing a rally that started on Sunday. The token climbed from approximately $0.0016 to $0.0019 on Sunday amid a meme coin surge linked to Jimothy The Raccoon (JIMOTHY), which soared 186% in 24 hours to a market cap near $11 million.
Price Movement and Market Impact
On Monday, PUMP increased over 23%, reaching $0.00207 during intraday trading, its strongest level since May 12, before settling around $0.00203 at press time. This made it the top gainer among the 100 largest cryptocurrencies on CoinGecko. The rally followed Ansem's strategic buy-in after the token reclaimed prior support near $0.001675.
Trader Perspective and Bullish Case
Ansem, known as @blknoiz06 on social media, revealed he acquired $PUMP using 1,500 SOL (equivalent to $115,000). Another trader, 0xbf73, subsequently opened a 10x long position on 764.14 million PUMP, valued at $1.53 million, with a liquidation price set at $0.0016194.
His bullish outlook is anchored on Solana's expected resurgence in retail activity during this cycle, forecasting monthly on-chain revenue between $30 and $40 million despite the ongoing bear market. Ansem anticipates Pump.fun will be a key beneficiary if Solana reclaims retail dominance.
He further highlighted the possibility of a significant token airdrop that could stimulate on-chain transactions, drawing parallels with Jito (JTO) and Jupiter (JUP) distributions in late 2023 that helped boost Solana's ecosystem trading volumes. Ansem also noted the vested interests of the token owners, whose holdings recently began unlocking, as a factor supporting the token’s potential performance.
The trader specified that a drop to $0.0014 would invalidate his investment thesis.
Market reacted with increased trading volume following Ansem's disclosure.
