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Yahoo
9 minutes ago
- Yahoo
Pump's PUMP Is Pumping Again—Can the Solana Token Keep It Up?
The crypto market continues its climb back upwards: Bitcoin and Ethereum are demonstrating resilience, with gains helping to propel the market as a whole back above $3.8 trillion. But there's one coin making a much more impressive comeback way down on the list of the top 100 by market cap: the appropriately named PUMP, the native token of the Solana meme coin launchpad While Bitcoin's modest 2% gain to above $115,000 provides stability, it appears the real action is happening in Solana's meme coin trenches. PUMP token has exploded 35% over the past week—making it the standout performer in an otherwise choppy market. What's going on? Let's zoom out: The broader crypto market recovery comes as traditional markets find their footing after President Donald Trump's latest tariff announcements sent the S&P 500 tumbling 1.6% and the Nasdaq dropping 2.24% on Friday—their worst single-day losses since May and April. The S&P 500 and the Nasdaq erased those losses today. The cryptocurrency market's 6.7% decline to begin August initially looked like the start of something uglier, but Monday's recovery has bulls breathing easier. Analysts attribute the drop primarily to profit-taking by traders following a strong rally in July, with no clear signs of panic selling or systemic weakness in the market. This narrative of "healthy consolidation" rather than collapse has emboldened dip buyers, with 95% of the top 100 cryptocurrencies posting gains in the past 24 hours. Ethereum today is up nearly 3% to above $3,600, and XRP is clinging to that all-important $3.00 price point. But with no top 10 coin breaking the 3% barrier, the real fun is reserved for meme coin traders—who really needed it after the recent bloodbath they went through. PUMP price: Bulls defeat the FUD remarkable turnaround validates our prior analysis that aggressive buybacks would eventually overwhelm selling pressure and that signs point to a price recovery—or at least heavy pressure against bears. Pump's PUMP fell to as low as $0.002283 in late July, well below the ICO price of $.004 when the token launched on July 14. The company raised $600 million after selling out its ICO in just 12 seconds, and the hype propelled PUMP to above a $6 billion fully diluted value just days later. But the hype didn't last, the price of PUMP soon came tumbling down. The company turned things around for PUMP holders when it announced token buybacks at the end of July just as the token hit bottom, which it has since carried out daily. The company is taking the daily revenue generated from its launchpad and putting it back into the chart, so far buying $23 million worth of PUMP, according to its own figures. As a result, PUMP is up more than 30% in the last seven days. So what do the charts say now? The token currently trades at $0.0034 and is approaching a critical broken support near the $0.0035-$0.0040 after the weekly surge. In terms of price direction, the last few days generated respectable bullish support after the token bottomed. Prices have already broken past two resistance levels around the $0.003 and $0.032 marks, which is a good sign for day and swing traders. The Relative Strength Index, or RSI, for PUMP sits at 67, approaching but not yet breaching the 70 overbought threshold. For context, RSI measures price momentum on a 0 to 100 scale. Readings above 70 typically signal overextension where profit-taking emerges while below 30 indicates oversold conditions ripe for bounces. At 67, PUMP shows strong buying pressure without triggering automatic-selling algorithms, suggesting room for PUMP's pump to grow. Traders would very likely interpret this as particularly bullish given the token's 35% weekly gain hasn't pushed the indicator into dangerous territory. The Average Directional Index, or ADX, for PUMP is at 27, which marks a very interesting development. ADX measures trend strength regardless of direction. As a general rule, numbers below 20 indicate no trend, 20-25 shows developing momentum, and above 25 confirms established directional movement until prices register 40 points or more, at which point the trend is considered to be very powerful. PUMP's ADX crossing above 25 signals the bearish correction that drove prices down 47% from May highs is either over or not strong enough to maintain the same bearish direction in case bears remain in play. The Exponential Moving Averages, or EMAs, for PUMP are also compelling. EMAs measure the average price of an asset over a set period of time. For PUMP, being such a young token, the 4-hour charts are where to look. The 50-period EMA (the average price of the last week or 50 candlesticks of 4 hours each) currently trades below the 200-period EMA (the average price of the last month, more specifically, 200 candlesticks of 4 hours each), and this is a textbook bearish formation for prices. But the narrowing gap between these averages (considering the prices are finally going up) suggests an impending "golden cross" reversal if prices keep heading in the same direction. When the faster EMA50 crosses above the slower EMA200, it historically marks the beginning of sustained uptrends. Smart money appears to be front-running this technical milestone. The coin is not there yet, but the price action can give bull traders some hope. The Squeeze Momentum Indicator shows 'off' status on the 4-hour chart, indicating volatility has already been released from recent compression. This diverges from daily timeframes showing continued squeeze, suggesting different trader cohorts are positioning for the next major move. When multiple timeframes align, explosive price action typically follows. The indicator currently points to a possible bounce from to the current support, which would not be unexpected considering the price spike. A trader might say it's a good accumulation zone for those expecting the recovery trend to remain in play for a while longer. Key Levels: Immediate support: $0.0030 (ascending trendline from July lows) Strong support: $0.0023 (July capitulation low and psychological floor) Immediate resistance: $0.003567 (current test level and prior rejection zone) Strong resistance: $0.004113 (50% retracement of entire decline, major breakout target) The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Yahoo
9 minutes ago
- Yahoo
Duolingo raises 2025 revenue forecast as AI tools boost user engagement
By Akash Sriram (Reuters) -Language-learning app Duolingo raised its annual revenue forecast and beat second-quarter revenue estimates on Wednesday, anticipating broader adoption of its AI-enhanced subscription tier among its global user base. The company's shares rose about 20% in trading after the bell. Duolingo operates on a freemium model, offering basic language-learning features for free while providing premium capabilities through monthly or annual paid subscriptions. The company now expects revenue for 2025 to be in the range of $1.01 billion to $1.02 billion, compared to analysts' estimates of $996.6 million. It had earlier projected revenue between $987 million and $996 million for the year. Revenue in the April-June period was $252.3 million, compared with analysts' estimates of $240.7 million. Duolingo's two subscription tiers — Super, designed for frequent learners, and Max, tailored for advanced users — include AI-driven features such as video-call conversation practice with chatbots, personalized error analysis and enhanced feedback tools. Since launching an AI-powered video-call tool for Android in January, Duolingo has expanded the feature to additional languages, aiming to boost subscription growth by enabling users to practice natural conversations across a broader linguistic range. Duolingo's gross margin benefited this quarter from lower-than-expected AI costs, as the decline in margin from expanding Max and AI features was much smaller than the company had originally expected. "The cost of calling AI tools has come down a lot. Ads also did better; ads are not a big part of our business, but it turned out that it helped margin a little bit as well," CFO Matt Skaruppa told Reuters. Duolingo leverages generative AI to create and personalize bite-sized lessons across more than 100 language courses. In April, CEO Luis von Ahn said that after taking 12 years to develop the first 100 courses, the company's AI tools helped it introduce 148 new courses in roughly one year. Duolingo expects revenue for the third quarter to be in the range of $257 million to $261 million, compared to analysts' estimates of $253 million, according to data compiled by LSEG. The firm also forecast an adjusted core profit of $288.1 million to $295.5 million for 2025. Sign in to access your portfolio
Business Insider
9 minutes ago
- Business Insider
A South Korean shipyard just picked up a new repair job from the US Navy as it turns to allies to help fix the fleet
A leading South Korean shipyard has won a repair contract for a US Navy auxiliary supply ship as the sea service looks to allies for assistance in maintaining the fleet. South Korea is a prominent allied shipbuilding power in the Pacific, and the US has been exploring closer cooperation that could provide answers as the Navy takes a hard look at the American yards constructing and doing maintenance on its ships. On Wednesday, HD Hyundai Heavy Industries Co. announced that it had secured a maintenance, repair, and overhaul contract for the US Navy Lewis and Clark-class dry cargo ship USNS Alan Shepard. The overhaul will begin in September near HD Hyundai's headquarters in Ulsan on the southeastern coast. The planned repair work will include propeller cleaning, tank maintenance, and inspections of onboard equipment. Alan Shepard is expected to be delivered to the Navy in November. The Navy didn't immediately respond to Business Insider's request for comment on the upcoming work. The contracted work is "highly significant," Joon Won-ho, head of HD Hyundai Heavy Industries' Naval and Special Ship Business Unit said, per the company's statement, because it marks the first contract following the South Korean government's proposal for a joint shipbuilding initiative with the US — MAGSA, or Make American Shipbuilding Great Again. South Korean officials proposed this MASGA initiative late last month as Washington and Seoul negotiated and navigated tariffs. The $150 billion partnership will be led by South Korean shipbuilders and help strengthen the US shipbuilding industry, including constructing new yards, supporting worker training, and assisting with ship maintenance. President Donald Trump and some other US officials have said that building more Navy ships and fixing broader shipbuilding and maintenance problems are top priorities, although questions remain on how the administration plans to pursue that. Before the MASGA initiative, HD Hyundai was already working closely with American shipbuilders, including a strategic partnership agreement with Huntington Ingalls Industries, among other collaborations in the US commercial sector. Other South Korean shipbuilders have also been helping with Navy repair and maintenance. In March, Hanwha Ocean finished up a regular overhaul on the USNS Wally Schirra, another Lewis and Clark-class dry cargo ship. The repair work marked the first time that a South Korean yard had bid on and won a regular overhaul contract of that scale for that type of vessel. In the MASGA proposal, South Korea's top shipbuilders — HD Hyundai, Hanwha Ocean, and Samsung Heavy Industries — agreed to cooperate on exploring how to bolster America's industry. While US allies and partners have been involved in helping maintain the Navy's fleet before, there has been a ramp-up in cooperation. US experts and officials have noted that Indo-Pacific allies, namely South Korea and Japan, have robust shipbuilding industries that may have answers to Navy problems. Some potential solutions observed in allied shipyards include better in-house worker training and more effective and efficient ship designs that reduce the labor hours needed to construct, maintain, and modernize vessels. Some models from outside the defense sector may also be applicable to military shipbuilding. Navy leaders have acknowledged that the service can learn from the shipbuilding capabilities of its allies and partners. In April 2024, then-Navy Secretary Carlos Del Toro visited a South Korean shipyard and said he was "floored at the level of digitization and real-time monitoring of shipbuilding progress, with readily available information down to individual pieces of stock material." During that trip, Del Toro encouraged South Korean companies to invest in commercial and naval shipbuilding facilities in the US, as many were "largely intact and dormant" and "ripe for redevelopment." The current Navy secretary, John Phelan, visited both Hanwha Ocean Shipbuilding and HD Hyundai Heavy Industries in April and emphasized the value of South Korean yards in helping the US Navy maintain readiness in the Indo-Pacific, a priority theater where competition with China, a shipbuilding juggernaut with a substantial fleet, is a key focus for the Department of Defense. "Leveraging the expertise of these highly capable shipyards enables timely maintenance and repairs for our vessels to operate at peak performance," Phelan said. "This level of large-scale repair and maintenance capability strengthens our combat readiness, sustains forward deployed operational presence, and reinforces regional stability." In addition to the Wally Schirra, a South Korean yard has also worked on USNS Yukon, which is a Henry J. Kaiser-class underway replenishment oiler. These discussions come as the Navy struggles to address long-standing issues in how it builds and maintains its fleet. There are backlogs in maintenance, and major shipbuilding programs have faced significant delays and overrun costs due to a range of factors, such as workforce issues, limited shipyard capacity, supply chain disruptions, and logistics and timeline problems. The problems have raised concerns in Washington about fleet size and readiness as the US focuses on deterring and preparing to fight a potential conflict with an adversary like China. The Navy has said that South Korean shipbuilding is an asset to the US as China's shipbuilding industry dominates the global market and pumps out military vessels at an alarming rate.
