Pump.fun, a Solana-based platform, has reclaimed the lead in the number of tokens launched in a day, while trading volume remains lower than its competitor LetsBonk.fun.
Pump.fun's Leadership in Tokens
According to recent data, Pump.fun achieved 13,690 tokens launched in 24 hours, surpassing LetsBonk.fun, which launched 13,392 tokens in the same period. This increase indicates heightened developer activity on the platform.
Market and PUMP Token Activity
Pump.fun's native cryptocurrency, PUMP, experienced volatility following its initial coin offering, raising $600 million in 12 minutes. Despite a recent 39.5% increase over the past seven days, PUMP remains 49% below its peak. Traders are focused on the recent rally, indicating improved short-term prospects.
Outlook and Resistance for PUMP
Current market data shows mixed sentiment. PUMP futures volume spiked 73.5% to $1.65 billion. The resistance level at $0.00366 is the next target for traders, and if interest in memecoins remains high, a move towards $0.00418 or even $0.0050 is possible.
Pump.fun's return to the top in token counts is indicative of recovery in the market, though trading levels still lag behind LetsBonk.fun. It remains to be seen whether Pump.fun can maintain its position or if its rival will regain the lead.
