Morning Minute: PUMP Prints First Golden Cross as Revenue Hits Seven-Month High
PUMP is showing a technical and fundamental rebound after a long drawdown. Its 50-day EMA has crossed above its 200-day EMA for the first time, a “golden cross,” while the token recently bounced from a July low around $0.001491 to an intraday high near $0.003. Pump.fun’s core business is also strengthening: seven-day revenue hit about $11.52 million, ranking among crypto’s top protocols, with annualized revenue around $458 million versus a roughly $1.09 billion market cap. Revenue has supported an aggressive buyback-and-burn program, with about half of protocol revenue used for PUMP purchases. Last week alone, roughly $5.3 million went into buybacks, and total buybacks and burns have reached about $429 million, removing a large share of supply. The team has also pushed growth initiatives, including Callout Rewards and sharply lower trading fees, which helped drive higher weekly app traders and record daily active traders.
