Solana-based launchpad Pump.fun, or Pump fun, lost its streak of being the top launchpad after Zora launchpad surpassed it. Coinbase Exchange’s Zora hit a daily average of 6,500 token launches during the last month, according to Dune data. However, come Monday, the launchpad hit an all-time high of almost 52,000 tokens created in a single day. Meanwhile, on the same day, LetsBONK created 22,554 and Pump.fun created just 4,173—with Zora accounting for 63.7% of all token creations across Base and Solana.
What is pumpfun?
Pump.fun is a memecoin launchpad that is based on the Solana blockchain. Launched in January 2024 and rapidly became a memecoin launch engine, Pump.fun contributed an estimated nine‑figure revenue within its first year and onboarded millions of tokens to the Solana ecosystem.
Meanwhile, the launchpad’s token, Pump fun has been on a roller coaster ride during the past week. The token was fluctuating between $0.0022 and $0.0030, as it battled to rise above the opening market price of 0.0030. However, at the press time, as shown in the chart below, the token has crossed the red zone and has reached $0.0031.
On the 2-hour chart, Pump fun has started a new uptrend of making higher lows, after reaching its floor price of $0.0022. As Pump fun Solana is rising, it has been met with resistance near $0.0032, and this is probably because there is some profit-taking activity happening in the market.
Pump fun hits resistance after setting on a new uptrend
Once a small retracement happens and the market reaches a new equilibrium, there will be more buyers entering. However, at present, the question is, will Pump fun be able to maintain its rise along the broken trendline as shown in the chart? In the event, the token keeps close to the trend line while it reaches higher altitudes, there is a high probability of it reaching $0.0039.
