PUMP, the native token of the Solana-based memecoin launchpad Pump.fun, has rallied over 30% in the past week, reaching $0.002763 amid booming platform revenue, a new social trading product, and a resurgence in memecoin activity.
Data from CoinGecko on Aug. 10 showed PUMP up about 12.5% in 24 hours, extending its seven-day gain to 31.9%, its 14‑day jump to 39.5%, and a remarkable 91.3% over the past 30 days. Trading volume exploded 103% to $175 million, making it one of the market’s top gainers.
The rally gained fresh fuel on August 7 when Pump.fun introduced “callout” tokens—allowing users to alert followers to tokens directly from the app—alongside zero‑fee trading and cross‑chain USDC support. Within 24 hours of the launch, volume hit $113 million.
Underpinning the demand is a critical tokenomic shift announced in April. Pump.fun now directs 50% of its net revenue to buy PUMP from the open market and permanently burn the acquired tokens. In April alone, roughly $370 million worth of PUMP (36% of circulating supply at the time) was removed from circulation. With Pump.fun generating $33.73 million in revenue over the past 30 days—surpassing perpetual futures exchange Hyperliquid—the programmed buy‑and‑burn is steadily reducing supply, creating upward pressure on price.
Technical analysis reveals a strong yet stretched position. On the daily chart, PUMP has pushed above its upper Bollinger Band, while the Supertrend indicator remains bullish with support at $0.002107. The 4‑hour Stochastic RSI is in overbought territory (above 80), suggesting a near‑term pullback or consolidation could occur. Key resistance stands at $0.00336, with a break above that potentially opening the way to $0.00484 and $0.00550. Immediate support lies around $0.00270, followed by the $0.0024–$0.0025 zone.
However, a major cliff approaches: on August 14, about 7.07 billion PUMP tokens are scheduled to be unlocked, introducing a significant supply event. If any portion of these tokens hits exchanges, added sell pressure could challenge the rally’s sustainability. For now, all eyes are on whether PUMP can conquer the $0.00336 resistance before the unlock.
