Pump.fun Token Surges 22% on Ansem's Bullish Call

Pump.fun's PUMP token surged over 22% to reach $0.00207 on July 20, its highest price since May 12, after prominent Solana trader Ansem revealed a long position at approximately $0.001675.

The move sent the 24-hour trading volume past $131 million, a jump of over 500% from the previous session, and made PUMP the top gainer among the 100 largest cryptocurrencies tracked by CoinGecko, according to Coinpedia.

Ansem's call was based on his belief that Solana will dominate retail crypto activity and that Pump.fun, which generates roughly $440 million in annualized revenue, is the most likely beneficiary of that trend.