- Technical breakout targets $0.009793 as PUMP trades above $0.008000, supported by a bullish flag and strong momentum indicators.
- Pump.fun has held above $10 million in weekly protocol revenues for four weeks, showing steady demand for meme coin launches.
- PUMP derivatives open interest surged to $1.22 billion, with long positions increasing to 51.79%, reflecting bullish market participation.
Pump.fun’s token, PUMP, is moving closer to its all-time high. The token currently trades near $0.008000. Weekly revenues for the protocol have stayed above $10 million for four straight weeks. This shows strong demand for the token launchpad service.
Price Action and Technical Signals
PUMP recently broke above a short-term resistance line and formed a bullish flag pattern on the 4-hour chart as shared by market watcher Ali Martinex via X platform. The next target is $0.009793 level which is the immediate resistance point.
Technicals support the move, MACD moving up toward its signal line, which may lead to a bullish crossover and the RSI is steady above 60, showing increased buying pressure.
A drop below the 50-period EMA at $0.007165 could discontinue the bullish set up. If that happens, the price might fall to the 100-period EMA at $0.006134. This makes these levels key to watch.
Steady Revenue and Platform Growth
Pump.fun has consistently earned over $10 million in weekly revenue. So far this week, revenues have reached $8.65 million. This steady flow suggests ongoing interest in the platform. The demand for meme coin generation remains high.
The platform is growing. Recently, Pump.fun paid out more than $4 million in creator rewards. Most of these rewards went to first-time creators. This payout was shared on Pump.fun’s official X account. It signals more users joining and using the platform.
The steady revenues and increased rewards point to a healthy ecosystem. Pump.fun continues to support new token launches and trading activity. This helps keep the community active and engaged.
Rising Trader Interest and Market Activity
Open Interest in PUMP derivatives jumped to $1.22 billion from $1.08 billion the day before. This increase shows more traders are opening positions. It reflects growing confidence and interest in the token.
Data from CoinGlass shows that long positions have risen to 51.79% up from 50.01% in the last 24 hours. More traders are betting on price gains.
This rising interest matches the positive price movement. The growth in open interest and long positions suggests that traders expect the token to rise.
