PUMP Rallies 10% Following Pump.Fun’s Acquisition Of Trading Terminal Padre

Pump.fun has acquired multichain trading terminal Padre to enhance its ecosystem and further its goal of tokenizing high-potential opportunities. The acquisition is intended to improve user experience and trading incentives, particularly for tokens launched on Pump.fun. Padre will continue to operate, but with upgraded features and integration with Pump.fun's platform. Following the acquisition announcement, Pump.fun's token, PUMP, experienced an 11.6% price surge, breaking out of a bearish pattern. Analysts suggest a potential retest of the $0.005 mark for PUMP if it breaks out of its current trading range. However, the acquisition also led to backlash due to the removal of utility for Padre's token, PADRE. The PADRE token's value plummeted by 76% after the announcement, triggering criticism from users. The community expressed disappointment over the lack of consideration for PADRE token holders. Some suggested an airdrop to compensate those who invested in the now-useless token.