PUMP rebounds as Cashback Coins launch offset token sell-off

PUMP, the native token of Pump.fun, is up 16.8% in a week and 1.9% today alone. The cryptocurrency's market sentiment seems to have turned bullish after hitting its all-time low at the beginning of the year. At the time of writing, PUMP was trading at around $0.002194, with a trading volume of over $111 million, which is more than 70% higher than the previous day. Pump.fun (PUMP) price chart | Source: Coingecko The surge in volume suggests conviction, even as concerns around supply and insider behaviour linger. Team sell-off tests market confidence One of the biggest shocks to PUMP holders in recent weeks came from a large token sale by the project team. Roughly 543 million PUMP tokens were sold…