Pump Protocol Token Surges 10% Amid Pump.fun Activity and Meme Coin Rotation

Pump Protocol's native token, PUMP, has seen a significant price surge of 10% over the past 24 hours. This uptrend comes amidst high pump launches on Pump.fun and increased usage of the platform.

The network's trading volume has also spiked by 8.89% to $179.28 million, while the Altcoin Season Index stands at 49, indicating a growing appetite for riskier assets in the crypto markets.

Pump Protocol's Holder Rewards program could contribute to further buying pressure, as it encourages users to maintain exposure to the token.

Data from DefiLlama shows that both Pump.fun's holders' revenue and active addresses have seen significant increases, with network revenue reaching $761K in the last 24 hours alone.