Pump.fun Reports 1.3 Million Active Addresses and 595,000 New Tokens in August
Pump.fun, a meme token generator on Solana, experienced significant user activity in August but the PUMP token's price remains stagnant.
Key Highlights
- Pump.fun had over 1.3 million active addresses and created 595,000 new tokens in August.
- The platform secured a 46.6% market share, outpacing competitors like LetsBonk.
- Traders collectively lost $66 million; over 60% ended the month at a loss.
- Average loss per wallet was $73.41, with the majority losing between $0 and $1,000.
- No trader earned over $1 million; only 1,665 wallets saw profits exceeding $10,000.
Buyback Initiatives
- Pump.fun repurchased $58.7 million worth of PUMP tokens in August.
- Total buybacks now exceed $66.6 million, absorbing over 17.5 billion PUMP tokens.
- The platform has surpassed $800 million in lifetime fees from its 1% swap fee.
Price Analysis
- PUMP is trading around $0.003428, forming a symmetrical triangle pattern.
- A breakout above $0.0035–$0.0036 could target $0.0042, with potential for $0.005 if volume supports it.
- Failure to maintain above $0.0033 may lead to retesting support at $0.0030 or further declines towards $0.0025.
