Pump Token Surges as Solana's Meme Coin Factory Sees Revenue Boost

Solana's Pump token is having a remarkable day, leading the top 100 coins by market cap with an impressive 8.26% gain.

The technical signals on its charts are painting a more optimistic picture for PUMP holders, with key indicators suggesting a structural shift from bearish to bullish trends.

Pump.fun's protocol revenue has hit a new weekly high of $10.03 million on August 11, with a significant portion of that going directly to token holders through the buyback-and-burn program.

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.