BlockBeats reported on Aug. 21 that PUMP has continued to rebound since falling to $0.001 in late June. Over the past 24 hours, the token rose about 19% and approached $0.004. It was also up 36% over seven days, 98% over 30 days, and roughly 116% over 90 days.
The broader crypto market has improved over the past two days. Bitcoin briefly moved above $79,000, and meme tokens including PEOPLE, NEIRO, and BOME ranked among Binance’s top gainers. That fits the familiar pattern of meme coins moving early as market sentiment recovers. Even so, BlockBeats said PUMP’s rise began about two months before the latest turn in the wider market.
BlockBeats points to fundamentals behind the rally
In its analysis, BlockBeats said the main force behind PUMP’s strong move has come from fundamentals rather than from the broader market alone. The report described Pump.fun as forming a positive loop centered on revenue, buybacks, and user traffic.
On-chain data cited in the report showed that over the past 30 days, Pump.fun recorded about $38.15 million in platform fees and about $29.19 million in revenue. By that measure, it ranked behind only Tether, Circle, and Canton, while surpassing protocols such as Hyperliquid, Polymarket, GMGN, and Tron.
Revenue acceleration, token buybacks, and user return lined up
BlockBeats said the window in which a golden cross appeared coincided with a renewed acceleration in revenue, continued PUMP buybacks and burns, and a return of trading users to the platform.
Pump.fun allocates 50% of its revenue to buying back and burning PUMP. The report said the platform recently generated more than $10 million in weekly fee revenue, one of its better readings since late January. Based on that mechanism, the figure implies roughly $5 million in potential buy pressure.
Pump.fun cuts fees as it competes for user traffic
On the product side, Pump.fun recently launched Callout Rewards, cut Solana trading fees to 0%, and lowered cross-chain fees to 0.1%. BlockBeats said the platform is using its revenue advantage to subsidize traffic as it competes with gateway products such as GMGN and Fomo for users.
If weekly active and daily active trading users continue to reach new highs, the market narrative around PUMP could shift from a pure meme platform token toward a trading gateway with comparatively strong cash flow, according to the report.
Overall, BlockBeats said the latest rally has been supported by both technical signals and a fundamental positive-feedback cycle, with revenue scale and the buyback mechanism acting as the core supports.