Analyst Warns Raydium (RAY) Price Could See One More Big Drop Before the Next Big Run – Here’s Why

Raydium price had a huge day, jumping more than 16% to trade at $3.66. Trading volume is also up over 127%, showing that traders are piling in fast.

However, with all this excitement, analyst MiggyMello is warning that a pullback could still be coming before the real breakout happens.

Why RAY Price Is Pumping

One of the biggest drivers right now is Raydium’s LaunchLab, its token launchpad. On August 9, it pulled in $900k in daily fees, for the first time beating the revenue from its swap platform.

That’s important because 30% of those fees go straight into buying back RAY every day, which at today’s prices is around $110k daily.

With 268M RAY in circulation, those buybacks help reduce the supply on the market, making it easier for price to climb.

Raydium’s protocol revenue is also up 60% quarter-over-quarter, which at a market cap of about $1B works out to an annualized buyback yield of around 6%. If LaunchLab fees stay above $800k a day, that buyback pressure could keep going strong.

Raydium $RAY – From Collapse to Comeback King! Once left for dead after the FTX collapse and a brutal infrastructure hack, Raydium has pulled off one of the most impressive comebacks in DeFi history! TVL: $2.269B and climbing Annualized Fees: $645.11M 30d DEX… pic.twitter.com/XvzVHLUfxV

— Leandro Crypto (@leandrosaeth) August 13, 2025

In addition, the Solana ecosystem is also giving RAY a boost. Its partnership with xStocks brings tokenized equities liquidity pools to Raydium, while the upcoming Firedancer upgrade (Q3 2025) is expected to make Solana’s network faster and more efficient

Raydium’s TVL just hit $2.08B and continues to grow, reinforcing its role as one of Solana DeFi’s main liquidity hubs.

RAY Price Chart Analysis: One More Dip Before the Moon?

MiggyMello points out that the 3D chart moving averages are still not in the perfect bullish setup. The 50-period MA (dark blue) is still sitting below the 100-period MA (light blue), and that’s not ideal for a long-term rally.

Image Source: X/MiggyMello

In the short term, Raydium price could still pump another 30%, but the analyst thinks we might see a move back down to the 50 MA before the “blow-off top” move really kicks in.

Looking at the recent price action, RAY price has broken out of a consolidation range with strong volume

But the structure suggests a quick surge could be followed by a healthy pullback. If that dip holds above key support levels and buybacks keep running at this pace, Raydium could be gearing up for its biggest rally yet.

Read Also: Best Low-Cap Cryptos to Buy on Ethereum as ETH Price Nears ATH

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The post Analyst Warns Raydium (RAY) Price Could See One More Big Drop Before the Next Big Run – Here’s Why appeared first on CaptainAltcoin.