Pump Fun Token (PUMP) was the day’s standout gainer in the crypto market, soaring more than 22% in 24 hours to trade around $0.0056, according to CoinMarketCap data.
The move pushed its market cap to nearly $2 billion, with trading volumes exploding 130% to $443 million. Traders on X flagged the token’s momentum as daily buybacks and new listings fueled demand.
Why PUMP Coin is Going Up Today
The biggest driver came from Binance.US, which opened deposits for the $PUMP token on September 9, with trading against USDT going live on September 10. Binance.US is the U.S.-registered arm of the world’s largest cryptocurrency exchange by trading volume, Binance.
Exchange support follows Pump.fun’s aggressive buyback strategy, which has seen more than $84 million worth of tokens repurchased, reducing circulating supply by 6.11% just two months after launch.
At the same time, the Pump Fun ecosystem continues to expand. A new partnership with MEXC Global, dubbed “MEXC Mondays,” will see fresh community tokens listed weekly.
Meanwhile, the platform has distributed $15.5 million in creator fees in just seven days, stressing its role as one of Solana’s most active dApps.
Pump.fun Revenue and Sentiment Grow
On-chain data highlights Pump.fun as a revenue machine. According to Token Terminal, the protocol has generated $808 million in lifetime revenue, outpacing rivals like PancakeSwap and Raydium, and ranking as the top DEX by revenue over the past year.
Analysts note this cash flow is key to sustaining daily buybacks. Mike Dudas observed that Pump.fun now holds over $2 billion in cash reserves earmarked for reinvesting into creator growth.
“Pump has more than $2b in cash to invest in creator growth that powers the token flywheel,” he wrote, highlighting the self-reinforcing model.
Trader sentiment is equally bullish. Lazul Capital pointed out that PUMP is now the second-largest revenue-producing protocol in crypto, behind only stablecoin giants like Tether and Circle.
Another analyst called recent $2.5 million buybacks a “bullish catalyst” that could double if market conditions improve.
Pump Fun Token Technical Outlook
Technical indicators support the rally. Data shows strong buy signals across oscillators and moving averages, with RSI at 73 suggesting slightly overheated momentum but not yet extreme.
Immediate resistance sits near $0.0058, while support is seen around $0.0047. If buybacks and bullish data continue at this pace, traders are eyeing a short-term push toward $0.007.
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