PUMP Leads Crypto Gainers at 8.26% as Golden Cross Forms
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- PUMP posted 8.26% gains to become the top performer among the top 100 coins by market cap, settling at $0.002933 after touching $0.003000 intraday — nearly doubling from its July low of $0.001491
- Pump.fun protocol revenue hit a weekly high of $10.03 million on August 11, with seven-day revenue reaching $11.52 million per DefiLlama
- The 50-day EMA crossed above the 200-day EMA for the first time since PUMP's mid-2025 launch — a golden cross — with ADX at 45.3 and RSI at 51.4 signaling a strengthening bull trend with room to run before overbought
- Pump.fun's buyback-and-burn program channeled $5.37 million of the $11.52 million in weekly revenue directly to PUMP token holders, creating ongoing buy pressure on the token
- Open interest in PUMP perpetuals climbed from roughly $189 million two weeks ago to $238.42 million per Coinglass, with funding rates flipping positive — suggesting fresh longs rather than short covering
Why it matters: For PUMP holders, the first structural bullish crossover since launch now has a fundamental bid — $5.37 million in direct buyback pressure and $238 million in derivatives positioning — but positive funding rates mean the move is leverage-driven, leaving it vulnerable to a sharp flush if price reverses and shorts get squeezed the other way.
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