Pump.fun’s PUMP token surged 10% in a 24-hour period, reaching $0.00338 as the platform reported a surge in user activity and token creation [1]. The platform, which operates on the Solana blockchain, has become the leading memecoin launchpad in the space, outperforming rivals such as LetsBonk in both new token launches and daily trading volume [2]. As of August 6, Pump.fun created 13,690 new tokens within a day, surpassing the 13,392 tokens launched by LetsBonk during the same period [1]. The platform also recorded $89 million in daily trading volume, compared to $81 million for the competing platform.
The rising activity is reflected in the growing on-chain metrics, with PUMP’s spot trading volume reaching $508 million over the past 24 hours. Derivatives trading volume climbed to $1.44 billion, with open interest rising by 4.38% to $512.9 million. These figures indicate a strong uptick in market participation and speculative activity. PUMP’s market capitalization currently stands at $1.19 billion, showing the token’s expanding influence in the memecoin sector [1].
From a technical perspective, PUMP continues to trade above its 10-day and 20-day moving averages, signaling positive momentum in the short term. The token is currently testing the upper Bollinger Band on the 4-hour chart, and the relative strength index (RSI) is approaching overbought territory at 66.89. The Stochastic RSI has reached 100, suggesting strong buying pressure [1]. However, analysts caution that a pullback in volume could lead to a retest of the $0.00305 support level, emphasizing the volatile nature of the market.
Despite its leadership in token creation and trading volume, Pump.fun trails LetsBonk in terms of platform revenue and token graduations. LetsBonk reported $831,472 in revenue and 139 token graduations, while Pump.fun generated $716,209 and had 117 graduations. This highlights the competitive dynamics within the memecoin launch ecosystem, where metrics like revenue and token maturity play a role in user and investor perception [1].
The PUMP token’s recent rally has been supported by broader trends in the cryptocurrency market. Over the past week, PUMP has gained 25%, with large whale activity indicating anticipation of a potential market move. The growing interest in mid-cap meme coins has been partly driven by the upward trend in major cryptocurrencies like Bitcoin and Solana [3]. The platform is also reportedly preparing a PUMP incentives program to boost user retention and liquidity, signaling a focus on long-term growth.
Pump.fun’s rise underscores the speculative nature of the memecoin market, where rapid adoption and community-driven momentum can drive price action. While the platform has maintained its lead in token launches and volume, it faces pressure to enhance token utility and manage regulatory expectations. The intense competition in the Solana memecoin space is evident, with platforms like Believe and LaunchLab gaining traction in market share and user engagement [6]. Analysts suggest that the recent whale accumulation and volume spikes reflect investor confidence in Pump.fun’s potential to sustain its momentum [3]. However, the market remains highly volatile, and investors are advised to approach with caution.
Source: [1] https://cryptofrontnews.com/pump-funs-pump-token-rises-10-as-platform-le/
[2] https://www.coindesk.com/daybook-us/2025/08/06/bitcoin-traders-bet-on-sub-usd100k-slide-crypto-daybook-americas
[3] https://cryptoadventure.com/pump-soars-25-weekly-as-whales-load-up-ahead-of-big-reveal/
[6] https://tr.okx.com/en/learn/solana-memecoin-mindshare-ecosystem