PUMP Price Up 41% in a Week as Pump.fun Flips Hyperliquid

• PUMP has nearly doubled from its mid-September low.
• Pump.fun has moved back ahead of Hyperliquid in 30-day revenue.
• The 4-hour chart shows a rising wedge with weaker momentum and volume.
• A pullback to nearby support would leave the uptrend intact.

PUMP, the token of Solana memecoin launchpad Pump.fun, rose 13.69% over the past 24 hours to trade at $0.0063 on Sunday, October 4, extending its weekly gain to 40.98%. CoinMarketCap data puts its market capitalization at $2.92 billion, with $381.3 million traded in a day. The move coincided with DefiLlama’s 30-day revenue ranking, which again places Pump.fun above derivatives exchange Hyperliquid. Pump.fun generated $55.5 million over the past 30 days against $54.34 million for Hyperliquid. On the chart, the rally has reached the upper edge of a narrowing pattern that more often resolves lower.

A 94% climb in 18 days

The PUMP/USDT pair on Binance bottomed at $0.003394 on September 16 and reached $0.006579 on Sunday, a gain of about 94%. Every pullback along the way stopped above the previous one. The 20, 50 and 200-period moving averages on the 4-hour chart sit at $0.00585, $0.00542 and $0.0044, all three are rising, and price trades above each of them.

That alignment describes a healthy trend. It also shows how far the price has run. PUMP stands roughly 8% above its 20-period average and 44% above the 200-period one, a gap that usually narrows either through a sideways pause or a drop.

Why a revenue ranking moves the token

Pump.fun charges fees on token launches and on trading across its platform, and it directs part of that income toward PUMP holders through token buybacks. DefiLlama counts $24.87 million of the past 30 days’ revenue as going to holders, about 45% of the total. Higher revenue therefore means more money flowing back toward the token, which is why traders treat the ranking as a demand signal.

The lead has changed hands before. On August 9, Pump.fun’s 30-day revenue stood at $33.73 million against $32.73 million for Hyperliquid, its first monthly lead since April 2025. It collected $84.35 million in fees over that period, compared with $47.14 million for its rival. Pump.fun kept about 40 cents of each fee dollar as revenue in that period, while Hyperliquid kept close to 70 cents, which is why two very different fee totals produced almost the same revenue. Pump.fun collected $172.67 million in fees over the past 30 days and kept about 32 cents of each dollar, while Hyperliquid collected $70.15 million and kept about 77 cents. The April 2025 lead did not last, and Hyperliquid took the position back quickly. Launchpad income depends on how many memecoins people create and trade, and that activity swings sharply from month to month. Both protocols now earn far more than they did then, with each 30-day total up by roughly 65% since August.

The wedge that caps the rally at $0.0066

Two rising trendlines frame the price. The upper one connects the September 18 high with Sunday’s peak and now passes near $0.0066. The lower one starts at the $0.0038 low of September 24 and sits near $0.0057. Because the lower line climbs faster, the range tightens, and the two meet around mid-October. Chartists call this a rising wedge. It tends to break downward, though only a 4-hour close below the lower line confirms it.

Momentum readings back the cautious view. The RSI stands at 64, a level that still reflects more buying than selling and remains below the 70 mark associated with an overheated market. In late September the same indicator reached 75 to 77 at lower prices. A new price high on a weaker RSI means each push upward draws less force than the last. Volume peaked during the September 27 to 29 advance and has declined since, while the October 2 sell-off candle produced a spike. Sellers showed up in size on that dip.

What changes above $0.0066 and below $0.0057

Three outcomes are possible from here, and each depends on where a 4-hour candle closes.

A drop to $0.0058 or even $0.0054 would be an ordinary correction after a 94% run and would leave the sequence of higher lows in place. The trend itself comes into question only below the $0.0044 to $0.0046 zone, where the 200-period average meets the 0.618 Fibonacci level. The classic wedge target is the pattern’s origin near $0.0038, but price would have to clear that zone first.

Pump.fun’s August lead came with a caveat that still applies. Hyperliquid remains ahead on one-year revenue and on total value locked, at $7.31 billion against $397 million. It also passes its entire $54.34 million in 30-day revenue to HYPE holders, more than twice what reaches PUMP holders. The 30-day gap is narrow at $1.16 million, but the shorter windows are wider. Pump.fun earned $17.54 million over the past seven days against $11.19 million for Hyperliquid, and $2.61 million in the past 24 hours against about $670,000. On the daily count only stablecoin issuers Tether and Circle rank higher. With the wedge lines converging around mid-October, the chart is likely to resolve within about a week.