Pump.fun’s PUMP token just printed its first golden cross since launch. This isn't just a technical bounce.
The 50-day EMA crossed the 200-day for the first time after bottoming in July. Weekly revenue hit a seven-month high of $11.52 million, placing it fourth among all protocols by DefiLlama.
Half of all revenue goes to buybacks, burning $5.33 million in PUMP last week alone—28.58% of the total supply since launch. They're cutting fees to undercut competitors. This is a supply squeeze meeting a demand play, funded by strong revenue. The golden cross is a lagging indicator here.
What happens when buybacks slow?
$ETH $PUMP
The 50-day EMA crossed the 200-day for the first time after bottoming in July. Weekly revenue hit a seven-month high of $11.52 million, placing it fourth among all protocols by DefiLlama.
Half of all revenue goes to buybacks, burning $5.33 million in PUMP last week alone—28.58% of the total supply since launch. They're cutting fees to undercut competitors. This is a supply squeeze meeting a demand play, funded by strong revenue. The golden cross is a lagging indicator here.
What happens when buybacks slow?
$ETH $PUMP