Bullish Setup Forms as Pump.fun Revenue Surges Above $10M

Pump.fun's (PUMP) price is on the rise as revenue surges above $10 million, sparking a bullish setup in the market. According to CryptoBoss, PUMP has flashed a bullish technical signal with an 81% A-score, indicating that buyers are gaining control and the trend remains strong.

The data from Wu Blockchain shows that Pump.fun network fees reached $10.03 million between August 3-8, representing a 12% week-over-week growth rate. This improvement in fee structure, coupled with increased trade volumes and continuous token burning, reinforces the positive outlook for PUMP.

Pumpers who hold above $0.00269 may see further upside as the price could break above $0.002884 levels, potentially reaching $0.003045 and $0.003239. However, a drop below $0.002367 would signal a failure of the bullish pattern.

The pump.fun revenue growth is attributed to increased momentum in the memecoin market, with $2.97 billion in ecosystem transactions volume achieved. The continuous burning of tokens worth around $5.02 million also supports the positive sentiment.