What is a Pump?
When the price of a collectible increases significantly, or the act of working to increase the price of a collectible.
The prices of labbits pumped 100% after the rumor that they would be able to breed.
The recent price pump was due to a rumor about gamification.
I saw an influencer pumping his bags on Twitter!
Pumping is a term that comes from the world of investing from the phrase “pumping and dumping”, a tactic where investors will try to inflate the value of assets they own, before selling them for a profit.
The practice can be seen in the world of VeVe as well, where collectors try to pump up (or shill) collectibles they own in an attempt to drive up the price by getting others to buy in.
Pumping your bags (promoting items you own) generally has a negative connotation, although sometimes users do genuinely promote collectibles they are passionate about, or offer investment advice without the ulterior motive of personal gain.
Pumping can also just refer to a general increase in the price of a collectible, for example if an item increased in value by 20% in a week, you could say that the “price pumped 20% this week”.