Pump.fun Records $31.8M Revenue Amidst Memecoin Frenzy
- Pump.fun Revenue Surge: Pump.fun, a platform for launching memecoins on Solana, has generated over $31.8 million in revenue.
- Celebrity Token Launches: Celebrities like Caitlyn Jenner and rapper Iggy Azalea have launched their own tokens on pump.fun.
- Record Revenue Day: Pump.fun recorded its highest revenue day on May 30th, bringing in $1.48 million.
- Solana Token Hub: Pump.fun is a popular hub for new tokens on Solana, with nearly half a million tokens created in the last month alone.
- Memecoin Frenzy: The surge in revenue is attributed to the frenzy around memecoins, with tens of thousands being launched daily on Solana through pump.fun.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 30.79 | 49.145 | 69.98 | 88.335 | 109.17 | 127.525 | 148.36 |
| Fibonacci | 49.145 | 64.116 | 73.364 | 88.335 | 103.306 | 112.554 | 127.525 |
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