Pump.fun's native token, PUMP, has climbed more than 8% in the past 24 hours to trade near $0.00301, extending its weekly advance to over 10% after recently touching a six-month high. The token's market capitalization now stands at approximately $1.18 billion, with 24-hour trading volume reaching $93 million, according to CoinGecko data.
The rally follows a strong month for PUMP, which has gained over 50% in the last 30 days. The token has more than doubled from its July low of $0.00149, recovering sharply as platform fundamentals improved.
Revenue surge underpins price action
One of the primary drivers behind the move is Pump.fun's improving revenue. Data from DefiLlama shows the platform generated roughly $11.52 million in protocol revenue over the past seven days, its highest weekly total since February. This places Pump.fun fourth among crypto protocols by weekly revenue, ahead of Hyperliquid and Polymarket.
For the week of Aug. 10-16, Pump.fun recorded $10.74 million in fees, up 7% from the previous week. Its strongest single day produced approximately $1.73 million, the highest daily figure since Jan. 30.
Higher revenue directly boosts demand for PUMP through the project's buyback program. Pump.fun allocates 50% of protocol revenue to a smart contract that buys back and burns PUMP tokens. According to the project's ecosystem account, roughly $5.52 million worth of PUMP was bought and burned in the latest seven-day period. Cumulative purchases and burns have reached approximately $429.6 million, equivalent to 28.58% of the token's circulating supply.
Platform changes add momentum
Trading activity has also been supported by recent platform updates. On Aug. 13, Pump.fun launched Callout Rewards, a program that pays users based on the trading volume generated by their token calls. Shortly after, the platform reduced trading fees to 0% for Solana trades and 0.1% for cross-chain trades, providing further incentive for users to trade through the platform.
These developments have strengthened price momentum, with PUMP breaking above previous resistance levels and reaching a six-month high. The token's daily chart has produced its first golden cross since launch, with the 50-day exponential moving average crossing above the 200-day EMA. The 50-day EMA sits near $0.00221, while the 200-day EMA is around $0.00203, both well below the current price.
Technical levels to watch
PUMP is currently testing a key resistance zone. The upper Donchian Channel sits near $0.00313, almost matching the latest intraday high of $0.00312. A daily close above this level would confirm a breakout and could open the door to the February price region around $0.00330, followed by $0.00350 if buyers maintain control.
On-balance volume has climbed steadily alongside the rally, currently near -135.11 billion, its strongest reading since February. This indicates that volume is confirming the price move rather than diverging. The 4-hour chart shows increased volatility, with the 14-period average true range near $0.000110, up from readings around $0.00004-$0.00006 in July. The 4-hour Chaikin Money Flow remains positive at approximately 0.10, suggesting buying pressure still outweighs selling pressure.
If PUMP fails to clear $0.00313, it could remain within its current range. Initial support lies around $0.00282, with the 20-day EMA near $0.00259 and the Donchian area around $0.00255 forming the next support zone. A deeper correction would bring the golden-cross region into focus, with the 50-day and 200-day EMAs providing lower reference levels around $0.00221 and $0.00203.
For broader context on crypto market dynamics, see recent moves in HYPE and gold's rebound.
This article is for informational purposes only and does not constitute financial advice.
