PUMP token jumped nearly 20% this week, hitting an 11-week high around $0.00215. The move came as Pump.fun, the platform behind the token, generated $7.5 million in revenue over the past seven days. That edged out Hyperliquid's $7.31 million. But with the broader crypto market still in a bear phase, traders are watching whether this rally has legs.
Revenue race: Pump.fun edges past Hyperliquid
Pump.fun's $7.5 million in weekly revenue puts it ahead of Hyperliquid, a notable feat in a down market. The figure covers the seven days ending July 30. It's a concrete number that shows real usage, not just speculation. Whether Pump.fun can sustain that pace is another question.
Overbought signal flashes
The token's Relative Strength Index climbed above 80. That's a classic overbought reading. In technical analysis, it often precedes a pullback or consolidation. PUMP's previous 20% jump, at the start of the prior week, was followed by exactly that — a retreat. The same pattern could repeat.
What traders are saying
On X, user Aman noted PUMP is testing a major descending resistance line. The price has been rejected there twice before. A daily close above $0.00205 could trigger a breakout, Aman said. User Nehal sees a different setup: PUMP is pulling back into a key demand zone. If bulls defend that area, Nehal predicted a rise of over 80%. User LB went further, forecasting $250 million in monthly revenue and $4.1 million in daily buybacks. LB called the all-time high a matter of when, not if.
History repeats?
PUMP posted a similar 20% daily gain at the start of the prior week. That rally fizzled into a pullback. The broader crypto market remains in a bear trend, and sudden spikes like this one often prove short-lived. The token's overbought RSI adds to the caution.
The next test is the daily close. If PUMP holds above $0.00205, the breakout narrative gains credibility. If it fails, traders will be watching for a retest of the demand zone. Either way, the revenue numbers give the token a real-world anchor that most meme coins lack.
