Solana’s Pump Token Leads Crypto Market Gainers as Chart Paints Golden Cross
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- PUMP is the top performer in the top 100 coins by market cap, up roughly 9% (8.26%) while the broader crypto market gained just 1.1% and the Fear & Greed Index sat at 39.
- Pump.fun's PUMP printed its first golden cross — the 50-day EMA crossing above the 200-day EMA — since the token launched in mid-2025, with ADX at 45.3 and RSI at 51.4 confirming a strengthening bullish trend.
- PUMP has nearly doubled since bottoming at $0.001491 in July, now trading at $0.002933 after touching $0.003000 intraday, for roughly a 90% monthly gain per CoinMarketCap.
- Pump.fun generated $11.52 million in seven-day revenue, of which $5.37 million flowed to PUMP holders through the buyback-and-burn program, with protocol revenue hitting a $10.03 million weekly high on August 11 per DefiLlama.
- Pump.fun introduced new social trading features to compete against the Fomo trading app, a move the article credits with restoring confidence in the protocol's positioning.
- PUMP perpetuals open interest rose to $238.42 million from roughly $189 million two weeks ago per Coinglass, with funding rates flipping positive — a signal of building conviction that the article notes also makes the setup more vulnerable to a sharp flush if price reverses.
Why it matters: PUMP is bucking a market where Bitcoin dominance keeps most altcoins flat, and the combination of a first-ever golden cross, a $5.37 million weekly buyback bid, and rising derivatives open interest gives holders a rare triple-stack of technical, fundamental, and leverage-driven support — though positive funding rates mean any reversal could trigger a sharper unwind than the current trend suggests.
Ask SkimNews
