Ansem: Bought PUMP and is bullish on its benefit from a rebound in Solana retail-chain activity

TechFlow message. On July 20, trader Ansem said that he bought PUMP near the old support around 0.001675. The main logic is that pump.fun can still generate about $30 million to $40 million in monthly revenue during the bear market phase. He believes that if Solana once again leads retail on-chain activity in this cycle, pump.fun is likely to be one of the beneficiaries.

Ansem also noted that if the project team launches an airdrop with a size of more than $300 million, referencing how Jito and Jupiter boosted on-chain activity at the end of 2023, market trading volume, attention, and on-chain activity may improve significantly. In addition, pump.fun often competes for the position of the most profitable crypto protocol alongside Hyperliquid and Polymarket, while the project team itself holds a substantial amount of tokens and the tokens have just started unlocking. Therefore, he believes the project team has incentives to drive token performance.

Ansem said that if PUMP breaks below the prior low of around 0.0014, the above assumptions will no longer hold.