PUMP token jumped 15% on Monday, reaching $0.0004 and a $1.3 billion valuation as Pump.fun regained its position as Solana’s top memecoin launchpad with 67% market share.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
3 mins read
PUMP jumped 15% on Monday to $0.0004, valuing the token at $1.3 billion, its highest level this month. The move coincided with Pump.fun reclaiming its position as Solana’s largest memecoin launchpad, overtaking rival LetsBonk after weeks of losing ground.
For over a year, Pump.fun had dominated meme coin creation on Solana. According to analyst Adam Tehc’s Dune Dashboard, that lead slipped in July as LetsBonk surged to control up to 74% of daily launches. But by Sunday, Pump.fun’s share rebounded to 67% of 27,500 meme coins launched, compared to LetsBonk’s shrinking footprint.
Trading volume metrics mirrored the shift in dominance between the two rival projects, with Pump.fun pulling in $134 million versus LetsBonk’s $12 million.
The turnaround predates last week’s unveiling of the Glass Full Foundation, a liquidity injection initiative aimed at supporting high-potential meme coins and their communities. Still, the new program added momentum, drawing renewed user and investor attention.
PUMP Token Derivatives Market Analysis | Coinglass
In derivatives markets, sentiment appears even more aggressive. According to Coinglass, trading volumes on PUMP futures contracts surged 168.17% to $1.38 billion, exceeding the $1.26 billion spot market cap at press time, signalling that the asset is seeing unusually high speculative volume relative to its size.
Open interest rose 17.81% to $510.63 million outpacing intraday price gains, suggesting traders are positioning for continued upside. Liquidations totaled $1.72 million, with shorts absorbing $1.13 million, further emphasizing bullish dominance.
Despite already hitting 15% intraday, technical signals on the PUMPUSD 4-hour chart reflect continuation of the current rally. As seen below, a golden cross has formed as the 5-day SMA overtakes both the 8-day and 13-day SMAs, a technical pattern often associated with sustained uptrends.
As seen below, PUMP price remains above the 5-day SMA despite a mild pullback on the 4-hour chart, a sign the rally is still intact.
PUMP Coin Price Forecast | PUMPUSD 4-Hour Technical Analysis
The RSI cooled from an intraday high of 70.2 to 62, easing overbought conditions without breaking trend structure. The 13-day SMA at $0.0033 offers immediate short-term support, while resistance near $0.0042 caps upside attempts.
A decisive close above $0.0042 could open a path toward retesting $0.0048, while a break below $0.00033 would shift focus to $0.0030. For now, considering the active speculative interest in the PUMP token and positive macro market sentiment, the momentum favors the bulls, with consolidation above short-term support likely before the next leg higher.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
