The Solana-based memecoin launchpad Pump.fun has surged to become the leading crypto protocol based on daily fees generated over the past 24 hours.
The spike in protocol revenue is fueled by its recently introduced creator fee model, which has boosted demand for PUMP. Technical indicators suggest the token’s momentum remains strong, signaling the potential for a continued rally.
Solana’s Pump.fun Surpasses Protocol Giants With Explosive Fee Growth
SponsoredAccording to DefiLlama, Solana-based memecoin creation platform Pump.fun has leapt to the top of the charts, becoming the leading crypto protocol by daily fees generated over the past 24 hours.
During that period, the protocol’s fees have totaled $5.73 million, ranking third only behind stablecoin issuers such as Tether and Circle.
For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
The fee spike is largely fueled by Pump.fun’s new creator fee model. As earlier reported, the platform’s “Project Ascend” initiative introduced a dynamic, tiered structure called Dynamic Fees V1, which scales fees according to a token’s market capitalization.
SponsoredUnder this model, fees for newly launched tokens start higher but gradually decrease as a token’s market cap grows.
Market Signals Put Bulls Still in Control
The changes have boosted network activity, translating into higher daily fees and growing demand for Pump.fun’s native token, PUMP.
Trading at $0.004204 at press time, its value has jumped nearly 10% in the past 24 hours. Its trading volume has also increased by 13%, to reach $354 million, confirming the strengthening buy-side pressure.
Sponsored
When both price and trading volume climb in tandem, it signals that the rally is supported by broad market participation. This indicates growing investor confidence in PUMP, as higher volumes validate its upward price movement.
Further, on the daily chart, the altcoin trades significantly above its 20-day exponential moving average. As of this writing, the key moving average forms dynamic support below PUMP’s price at $0.003482.
The 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When price trades above the 20-day EMA like this, it signals short-term bullish momentum and suggests buyers are in control.
PUMP Bulls Set Sights on $0.005177
If PUMP buyers remain in control, they could drive its price higher toward $0.004572. A breach of this level could open the door for a rally to $0.005177.
However, if profit-taking begins, the token could shed some of its value and fall under $0.004027.
