$PUMP Token Surges as Golden Cross Forms on Solana-Based Pump.fun Charts

The Solana-based meme coin factory, Pump.fun, is experiencing a significant surge in its native token $PUMP. The token has gained nearly 9% in today's trading session, making it the top performer in the top 100 coins by market cap.

This growth is reflected in the technical signals on the charts, which are painting a more optimistic picture for $PUMP holders. The 50-day Exponential Moving Average (EMA) has crossed above the 200-day EMA, signaling a structural shift from a bearish trend to a bullish one.

The protocol revenue on Pump.fun's app hit a new weekly high of $10.03 million on August 11, with $5.37 million flowing directly to $PUMP token holders through the buyback-and-burn program. This mechanism converts fee income into direct buy pressure on the token, giving the chart a fundamental bid.

The derivatives market is also aligned, with open interest in $PUMP perpetuals standing at $238.42 million, up from roughly $189 million two weeks ago. The simultaneous rise in price and open interest suggests fresh capital is entering rather than short positions closing.