Solana’s Pump Token Leads Crypto Market Gainers as Chart Paints Golden Cross
Crypto markets rose 1.1% as sentiment stayed cautious but not panicked, with Bitcoin still favored over altcoins. PUMP, the token tied to Pump.fun, stood out as the day’s top performer in the top 100, rising nearly 9% and up about 90% for the month after rebounding from a July low of $0.001491 to around $0.002933. Technicals turned bullish: the 50-day EMA crossed above the 200-day EMA in a golden cross, ADX is strong at 45.3, and RSI at 51.4 leaves room for further upside. Fundamentals also support the move, with Pump.fun generating $11.52 million in seven-day revenue and $5.37 million flowing to PUMP holders through buybacks and burns. Derivatives confirm growing interest: open interest climbed to $238.42 million and funding turned positive, suggesting new long positioning, though leverage raises the risk of a sharp pullback.
