PUMP, the native token of Solana memecoin launchpad Pump.fun, climbed roughly 8% to around $0.0029, lifting its market capitalization to about $1.13 billion as a golden cross (bullish moving-average crossover) began forming on the daily chart. Twenty-four-hour trading volume topped $100 million, indicating broad participation during the move. The price action comes alongside strong platform fundamentals: Pump.fun generated a record $10.03 million in protocol fees in the week of August 3-9, 2026, and held more than 50% of total fee share in Solana memecoin launches as of mid-August 2026. The protocol has used substantial fee income for buybacks and burns (permanently removing tokens), reducing circulating supply, which stands at about 390-392 billion PUMP out of a 1 trillion maximum. Still, ongoing token unlocks remain a potential overhang because only about 39% of supply is currently circulating, leaving room for future selling pressure.