Pump.fun's PUMP token climbed 33.8% over the past seven days to about $0.0028 on August 11, extending its 30-day gain to more than 104%. The token's circulating market capitalization was around $1.1 billion.

The price move came alongside stronger activity on Pump.fun, the Solana-based memecoin launch platform behind PUMP that has emerged as one of the highest-revenue-generating protocols in decentralized finance. The platform enables anyone to create and trade new tokens using bonding curves — an automated pricing model where token cost rises incrementally as more units are purchased. From August 3 to August 9, the protocol generated $10.03 million in fees, up 12% from the previous week and the first time weekly revenue has crossed the $10 million mark under the platform's current reporting framework.

A Coin Bureau post on X highlighted the milestone, writing: “HUGE: Pumpfun breaks $10 MILLION in weekly fees for the FIRST time ever. Pumpfun generated a record $10.03M in protocol fees from Aug. 3–9, up 12% WoW. The platform also bought back and burned 2.15B $PUMP worth $5.02M, while ecosystem trading volume hit $2.97B, its highest… pic.twitter.com/ThdqdVVbCL — Coin Bureau (@coinbureau) August 11, 2026”

Trading volume across the ecosystem reached $2.97 billion during the week, which Pump.fun described as its strongest weekly performance since the end of January. PumpSwap, the platform's native decentralized exchange where tokens migrate after completing their bonding curve phase, accounted for $2.22 billion of that total, while bonding curve transactions made up the remaining $751.6 million.

The platform also said it spent $5.02 million to buy back and permanently remove about 2.15 billion PUMP tokens from circulation during the week. Pump.fun directs 50% of net revenue to automated buyback and burn mechanisms through a secured smart contract, a deflationary tokenomics model designed to continuously reduce circulating supply. To date, total burns have removed 15.7% of PUMP's initial total supply.

Over the past 30 days, Pump.fun has recorded $35.67 million in revenue, according to DefiLlama, surpassing Hyperliquid's $32.46 million over the same period. DefiLlama uses different calculation methods for the two platforms. Pump.fun's revenue figure includes bonding curve fees, PumpSwap protocol fees and Terminal fees, while Hyperliquid's figure mainly reflects fees allocated to its Assistance Fund for HYPE token purchases.

On August 7, Pump.fun introduced an upgraded social trading interface with token notifications for followers, fee-free trading and cross-chain USDC compatibility. The feature set positions Pump.fun to compete with social-adjacent trading platforms by letting users build followings and broadcast token calls directly within the app. The platform said the update helped drive a 44% increase in callouts and an 87% rise in replies during the week. In an X post, Pump.fun wrote: “Social trading just leveled up on the Pumpfun app! – Callout tokens, alert EVERY single follower – Trade with ZERO fees – Trade crosschain seamlessly with USDC Grow your following now pic.twitter.com/lZGWozPCEY — Pump.fun (@Pumpfun) August 7, 2026”

Despite the recent rally, a significant token unlock is approaching. Token unlocks — scheduled releases of previously locked allocations — can increase the number of tokens available for trading in the open market. DefiLlama's unlock calendar shows that 4.167 billion PUMP tokens allocated to the team and 2.708 billion reserved for existing investors are scheduled to become available around August 12. The combined 6.875 billion-token release is valued at about $19.2 million at current prices and represents roughly 1.75% of circulating supply. An alternative data source puts the unlock at 7.07 billion PUMP on August 14.

From a technical standpoint, PUMP is trading above the upper Bollinger Band on the daily chart, which is near $0.00270. The 4-hour Stochastic RSI is reading between 88 and 91, above the 80 level often associated with overbought conditions.

PUMP remains about 68% below its all-time high set in September 2025. The token has risen from around $0.0012 in late June to roughly $0.0028 now.