Pumpcoin trading volume surges 20-fold in one day...price rebounds to the 10% range

According to News 1, the trading volume of the virtual currency PUMP (PUMPBTC) surged 20 times in one day, causing the price to rise by more than 10%.
It was traded exclusively on Bithumb, and this is interpreted as the result of concentrated buying. At 3:35 pm on the 24th, the pump on Bithumb was 47.91 won, up 10.32% from the previous day.
It was trading at about 5 yen. It had been on a downward trend until the previous day, but on this day it managed to rebound. On this day, there were no favorable factors that would have a positive impact on the price of pump.
However, since Bithumb is the only company listed on the exclusive exchange in Korea, it can be interpreted as a concentrated buying spree in a short period of time. In fact, the pump trading volume on Bithumb on that day was 206.59 million won (approximately 2
The total amount of funds raised was 13.28 million won (approximately 1.41 million yen) on the previous day, which is about 20 times the amount of funds raised on the previous day (13.28 million won, approximately 1.41 million yen).
It is a utility token used on the platform "PumpBTC." When users stake Bitcoin, they are given Pump Tokens as compensation, which they can use in various ways.
It can be used in decentralized finance (DeFi) services, with the aim of expanding Bitcoin from a simple asset holding to a means of investment and income generation in the DeFi ecosystem.
On the other hand, PUMP is a different cryptocurrency from the similarly named PUMP.FUN, a meme coin based on Solana (SOL).
It is an issuing platform that allows anyone to easily generate and trade meme coins.