PUMP, the native token of the meme coin launchpad Pump.fun, surged nearly 20% to an 11-week high of roughly $0.00215, outperforming Bitcoin, Ripple, and Solana. The rally followed data showing Pump.fun generated $7.5 million in seven-day revenue, surpassing decentralized exchange Hyperliquid. Crypto X users noted the platform’s ecosystem advancements and suggested the token may be poised for further gains. However, technical indicators show PUMP’s Relative Strength Index has entered overbought territory above 80, signaling a potential correction. The token had previously experienced a similar 20% jump that reversed days later.
Pump.fun’s native token PUMP has surged nearly 20% to an 11-week high of roughly $0.00215, outperforming the broader market. Bitcoin, Ripple, and Solana posted only minor gains in the same 24-hour period.
The rally followed an X account associated with Pump.fun revealing that the platform generated $7.5 million in seven-day revenue. This figure surpassed the popular decentralized exchange Hyperliquid, which recorded $7.31 million during the same period.
X user LB argued that flipping Hyperliquid in a bear market is “the funniest” thing, questioning what would happen in the next bull run. They added that “Pump revenue figures are going to get stupid,” predicting a period where PUMP does $250 million in monthly revenue.
Another user, Pentosh1, stated that “the math is mathing” for the token, adding that on-chain activity growth should benefit the price. Pentosh1, who claimed to be a former PUMP critic, said “the token is here to stay.”
Technical analysis from X user Aman suggested that PUMP is testing a major descending resistance that has rejected the price twice before. They noted that a daily close above $0.00205 could open the door for a strong breakout, adding that “bulls are one breakout away from changing the entire structure.”
User Nehal opined that PUMP is pulling back into a key demand zone after reclaiming structure. In their view, the price may rise over 80% if bulls defend that area.
However, the broader cryptocurrency market remains in a bear market, and sudden price increases may prove short-lived. Similar to last week, PUMP posted a 20% daily jump only to reverse in subsequent days.
The token’s Relative Strength Index has risen above 80, signaling overbought territory. That level is typically a precursor to a correction, while anything below 30 is considered a buying opportunity.
