Solana-based Memecoin Launchpad Pump.fun is surged to become the leading cryptographic protocol based on daily rates incurred over the past 24 hours.
The protocol revenue spike was driven by a recently introduced creator fee model, increasing the demand for pumps. Technical indicators suggest that token momentum remains strong, indicating the possibility of continuous gatherings.
Solana’s Pump.Fun surpasses protocol giants with explosive fee growth
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According to Defilama, Solana-based Memecoin creation platform Pump.Fun has jumped to the top of the charts and has become the leading cryptographic protocol with daily rates produced over the past 24 hours.
During that period, the protocol’s fees totaled $5.73 million, ranking third behind Stablecoin publishers such as Tether and Circle.
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Rates spikes are greatly promoted by Pump.fun’s new creator fee model. As previously reported, the platform’s “Project Ascend” initiative introduced a dynamic layered structure called Dynamic Fee V1.
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With this model, the fees for newly launched tokens start high, but gradually decrease as the market capitalization of the token increases.
Market signals still control bulls
This change will improve network activity, increase daily fees and increase pump demand.
Its value has jumped nearly 10% over the past 24 hours as it traded at $0.004,204 at press. Its trading volume also rose 13% to $354 million, confirming increased buy-side pressure.
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If both prices and trading volumes rise in tandem, it indicates that the gathering is supported by widespread market participation. This shows an increase in investor confidence in pumps as higher volumes test the movement of rising prices.
Additionally, on daily charts, Altcoin is significantly above the 20-day exponential moving average. At the time of writing, the main moving average will have a dynamic support below the price of the pump to $0.003482.
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The 20-day EMA measures the average price of assets over the last 20 days, giving weight to recent prices. When prices trade above this 20-day EMA, they show short-term bullish momentum, suggesting that buyers are in control.
Pump Bulls sets sights at $0.005177
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If the pump buyer maintains control, the price can be increased to $0.004572. This level of violation could result in a rally door of $0.005177.
However, once profits begin, the token can cut some of its value and fall below $0.004027.
