Crypto whales buy $3.6 million of PUMP as token climbs 18%

What happened

Whales bought about $3.6 million in PUMP tokens, and two large wallets now hold a combined 572.56 million PUMP, per Lookonchain data cited by U.Today.

One whale, netherlol, purchased 383.34 million PUMP worth approximately $2.4 million, its first purchase of the token in over a year. A separate wallet, GnZqfY, withdrew 189.22 million PUMP, roughly $1.18 million, from the exchange MEXC.

The combined $3.58 million accounts for about 3% of a daily trading volume near $121.4 million. The transfers followed a 24-hour price gain that CoinGlass put at 18%.

At press time PUMP traded around $0.006426, up 17.5% over 24 hours and about 46% over seven days. Blockonomi reported the token at $0.006369 on October 4, a 15% gain.

Why it matters

The buying stands out because netherlol had been away for more than a year, and the accumulation equals roughly 3% of daily trading volume.

The two transactions are not the same. Buying records added demand, while an exchange withdrawal can simply move tokens acquired earlier, and Lookonchain did not disclose why netherlol returned or how long either wallet intended to hold.

The price rose alongside the wallet moves, but the timing does not establish a causal connection. Continued whale accumulation could support demand if purchases persist, though these transfers alone cannot show that pattern.

What the data shows

PUMP futures traded over $1.04 billion in 24 hours, while spot volume reached $121.39 million, which is about 8.6 times the spot figure.

U.Today put open interest at around $672.28 million. Blockonomi cited CoinGlass at $669.62 million, up 25.77%, with derivatives volume of about $1.08 billion.

About $3.14 million in PUMP positions were liquidated over the past day, and roughly 78% of those liquidations were shorts. A later CoinGlass check showed approximately $3.22 million in liquidations across 24 hours.

Blockonomi reported a relative strength index of 65.77, below the overbought level of 70, and a MACD line at 0.000241 above its signal line at 0.000189. Nearby resistance sits around $0.00655.

Background

PUMP has risen about 294% over 90 days and by more than 235% since the start of 2026, taking its market cap to around $3 billion per U.Today. Blockonomi valued the Pump.fun token at approximately $2.95 billion, ranking it 35th among tracked cryptocurrencies.

The wider market gained 0.77% to about $2.9 trillion, with Bitcoin above $85,000, Ethereum near $2,699 and XRP at $1.50. On Oct. 3, Lookonchain reported that a sharp drop in the PUMP price wiped out two large traders who held 707.6 million PUMP valued at about $3.61 million.

Machi Big Brother has made 10 profitable trades with PUMP, most recently closing a long position on Sept. 30 for realized profits of around $827,000.

What is still unclear

• U.Today put 24-hour open interest near $672.28 million, while Blockonomi cited CoinGlass at $669.62 million.
• The reports also differ on 24-hour liquidations, at about $3.14 million and approximately $3.22 million.
• Market cap figures differ as well, at around $3 billion and approximately $2.95 billion.

Questions readers ask