Solana’s Pump Token Leads Crypto Market Gainers as Chart Paints Golden Cross

In brief

• Solana's PUMP is today's the top performer in the top 100 coins by market cap, up 8.26%
• The technical signals on the charts are starting to paint a more optimistic picture for PUMP holders.
• Protocol revenue on the Pump.fun app hit a new weekly high of $10.03 million on August 11.

The crypto market is up 1.1% on a Monday that opened with Fear & Greed Index score at 39, meaning markets may still be fearful, but they're not in panic mode anymore. Meanwhile, the Altcoin Season Index is at 44 out of 100, which typically means traders go to Bitcoin as a hedge against volatility and overly bearish movements. Bitcoin dominance remains high enough that most altcoins are treading water.

The native token of the Solana meme coin factory, Pump.fun, is not treading water. Pump’s token, which trades as PUMP, is the best-performing coin in the top 100 on the day, posting almost 9% of gains in today’s trading session. And the technical signals are finally backing up what the revenue numbers suggested weeks ago.

PUMP bottomed at $0.001491 in July and has since nearly doubled, touching $0.003000 intraday today before settling at $0.002933. The monthly gain sits at roughly 90%, per CoinMarketCap