Pump.fun [PUMP] recovered from a low of $0.001 recorded two days earlier, rebounding with the broader crypto market on July 26 and moving back above the $0.0020 resistance level.

At press time, PUMP was trading near $0.00203, up 13.02% on the daily chart. During the same period, trading volume rose 157% to $92 million, reflecting increased market participation.

PUMP revenue surpasses Hyperliquid as inflows rise

Reports that Pump.fun had overtaken Hyperliquid [HYPE] in revenue supported the broader narrative around PUMP’s recent activity.

According to Pump.fun Ecosystem, the protocol’s daily revenue climbed to $7.45 million, exceeding Hyperliquid’s $7.31 million. The increase shows that the ecosystem is producing significant income from its operations.

The protocol has generated $1 billion in fees and $448 million in annualized revenue. Daily capital inflows have also remained steady.

DefiLlama data showed that U.S. dollar inflows had risen to $5.6 million at the time of writing, indicating continued capital deployment into the protocol. These revenue and inflow figures are also important because Pump.fun has been using network-generated income for token buybacks, linking ongoing protocol activity with the pace of supply reduction.

PUMP token buybacks continue

Pump.fun has allocated a large portion of network-generated income to token buybacks. To date, the project has purchased 154.57 billion tokens valued at approximately $414.27 million.

In its latest purchase, the team acquired 216 million PUMP, according to Lbexplorer. Through these buybacks, the team has removed 15.357% of the total supply.

The scale of the buybacks reflects the team’s continued commitment to the project during a period of prolonged weakness. Token buybacks have increasingly been used by multiple protocols as a mechanism to reduce supply and ease market pressure. In many cases, the approach has offered short-term relief and supported upward price momentum.

Because the buyback program is tied to generated income, traders are likely to keep monitoring whether revenue, inflows, and purchase activity remain aligned. A slowdown in any of those metrics would be relevant to the current supply-reduction narrative, while continued activity would keep attention on the program’s execution.

Technical indicators point to a key range

With protocol activity holding steady, PUMP’s upside momentum has been gradually strengthening. The token’s MACD remained on an upward path, rising to 0.000118 at the time of writing.

That reading indicates that buyers have been gaining control, while the ongoing move would require further confirmation from the Relative Strength Vigor Index (RVGI). For confirmation, the RVGI would need to complete a bullish crossover.

At the time of writing, the RVGI was moving higher while its signal line was declining, creating conditions for a potential upside crossover. If that occurs, PUMP could target $0.0022.

However, for that move to remain intact, PUMP would need to hold above $0.0020. A failure to maintain that level could expose the token to another decline toward $0.0017.