Pump.fun (PUMP) is rebounding above $0.00300 at the time of writing on Tuesday, outpacing major crypto assets like Bitcoin (BTC), which continues to trade sideways between support at $88,000 and resistance at $90,000.
Pump.fun reclaims the $0.00300 support level, suggesting that investors are turning to meme coins as Bitcoin consolidates.Pump.fun’s meme coin launchpad revenue rises for five consecutive days, reaching $2.
3 million on Monday.Pump.fun’s combined trading and meme coin launching fees surge to $5.4 million, up over 21% since Sunday.Pump.fun is rebounding above $0.00300 at the time of writing on Tuesday, outpacing major crypto assets like Bitcoin , which continues to trade sideways between support at $88,000 and resistance at $90,000.Pump.fun revenue, fees surge as price ralliesPump.fun’s meme coin launchpad and trading platform revenue has increased significantly, totalling $2.32 million on Monday from $2.02 on Sunday and $1.18 million last Thursday. The total revenue returned above the $1 million mark on January 5, after dropping to $869,000 on January 3. Pump.fun revenue | Source: DefiLlamaThe fees collected from trading and launching meme coins have also increased by more than 21% to $5.4 million as of Monday from $2.7 million on Thursday. This surge suggests that meme coin launches and trading activity are gaining momentum among investors seeking alternative opportunities to major crypto assets. Pump.fun fees | Source: DefiLlama Revenue and fees on Pump.fun play a significant role, supporting the token buyback program. A significant portion of the revenue and fees collected is used to reduce PUMP’s circulating supply, with the rest used to fund staking rewards.Technical outlook: Pump eyes further upside as bulls look to follow throughPump holds above the immediate support at $0.00300, supported by strengthening technical indicators and positive sentiment among traders. The Relative Strength Index is above 60 on the tail chart, indicating short-term bullish momentum.The Moving Average Convergence Divergence is above its signal line, prompting investors to lean into risk and adding to the tailwind driving PUMP higher. Bulls will tighten their grip further as the green histogram bars expand above the zero line. A break above the next key hurdle at $0.00339, last tested in early December, is required to boost recovery toward $0.00400.PUMP/USDT daily chartStill, traders should be cautious amid possible profit-taking, microeconomic uncertainty, and geopolitical tensions, which could push PUMP below $0.00300. The 100-day Exponential Moving Average is poised to absorb selling pressure at $0.00293 and the 50-day EMA at $0.00260. Cryptocurrency metrics FAQs What is circulating supply? The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology. On the other hand, circulating supply can also be decreased via actions such as burning tokens, or mistakenly sending assets to addresses of other incompatible blockchains. What is market capitalization? Market capitalization is the result of multiplying the circulating supply of a certain asset by the asset’s current market value. What is trading volume? Trading volume refers to the total number of tokens for a specific asset that has been transacted or exchanged between buyers and sellers within set trading hours, for example, 24 hours. It is used to gauge market sentiment, this metric combines all volumes on centralized exchanges and decentralized exchanges. Increasing trading volume often denotes the demand for a certain asset as more people are buying and selling the cryptocurrency. What is the funding rate? Funding rates are a concept designed to encourage traders to take positions and ensure perpetual contract prices match spot markets. It defines a mechanism by exchanges to ensure that future prices and index prices periodic payments regularly converge. When the funding rate is positive, the price of the perpetual contract is higher than the mark price. This means traders who are bullish and have opened long positions pay traders who are in short positions. On the other hand, a negative funding rate means perpetual prices are below the mark price, and hence traders with short positions pay traders who have opened long positions.
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Pump.fun rallies as $3 million Pump Fund boosts user demandPump.fun (PUMP) edges higher by nearly 10% at press time on Tuesday, building on the 10% gains from the previous day. The renewed recovery in PUMP aligns with a surge in network activity, including increased user numbers and platform volume after the announcement of a $3 million Pump Fund.
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HYPE Skyrockets 25% Daily, BTC Price Struggles Below $88K: Market WatchHYPE and PUMP are the two top gainers over the past 24 hours.
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