All Eyes On The $PUMP Token Launch

Written by Jason Krutzky, Chartered Meme Technician at Spot Trading.

It was a really exciting week in the trenches. $BTC made new all-time highs, and $ETH ripped. $SOL lagged but was still strong. The $PUMP token launch sold out in just 12 minutes. $JUP announced some exciting stuff for Q3. There was just a ton happening, and it all seems super bullish. We're going to get into all of it below, but first, in other news:

• $URANUS Takes Center Stage on Jupiter Studio

• The $PUMP Token Is Here

• $HYPE Is Now Available On Spot

• $GP Gains +1000% In Two Weeks

• Pump.fun Acquires Kolscan

Now that you're caught up, let's take a dive into all of the key things that happened this week!

Analysis On The Majors

$BTC (+8.61%)

Now that we are in proper price discovery mode, it's time to whip out the fibs. We use Fibonacci's simply because they are our only way to gauge targets when at ATHs. The 1.618 is perhaps the most powerful fib extension, and it sits casually at ~$131k. Not a bad look for the bulls. 

$ETH (+16.25%)

Despite all the attention on Bitcoin's ATH, the real focus this week for traders was ETH, whose gains nearly doubled that of its golden counterpart. There's a saying that goes, 'Close above the wicks, get green sticks'. If we do indeed close above the past two months of highs, look out above. This move could just be getting started.

$SOL (+7.33%)

What can we say about the Shitcoin Casino™️? It's lagging, simple as. However, I'm not personally ready to count this one out. When it wants to get moving, it will, and I think it will be violent. For now, though, we remain stuck in the same Anchored VWAP pinch that we were stuck in last week. The tighter the coil, the more powerful the move can be.

Chart Of The Week

$ALT

From 0 to $137mm in 7 trading days. Absolutely bananas price action on ALTCOIN this week. Nearly 38k holders and $1.4mm in liquidity, this thing has been up only all week, and I'm currently down bad because I own exactly none. That said, this price action does seem pretty heavily manipulated, so do be careful if you choose to participate.

Legacy Memes Are Catching A Bid

While some of you are still trying to figure out if "HODL" is a typo, those of us who've been through a few market cycles are getting major nostalgia vibes watching our old portfolio darlings make their triumphant return. Here are a few old-school larger-cap names that you should keep an eye on. 

$PENGU

Up +85% this week, the Solana-based $PENGU has seen a significant gain, driven by the news of an ETF filing by Canary Capital with the Cboe BZX Exchange. This move, which would make $PENGU only the second memecoin with a regulated exchange-traded product, has generated considerable buzz and attracted institutional interest. Keep your eye on the Anchored VWAP from the day 1 candle. It could be a strong level of resistance, at least initially.

$MOG

Here's the deal. Winners win, and Moggers mog. This was a key coin in late 2024, and the fact that it has gained +88% this week says that it's still a key coin today. Keep an eye on that Anchored VWAP from the all-time high. Now that that level has been gained, bulls will want to see it held on any retest.

$PEPE

Despite being up +24% this week, the internet's favorite frog is looking weak relative to some of its counterparts. What will it take to push this one back to its all-time high market cap of around $11b? Well, first things first, you need buyers from those highs to get back in the money. Let's see if they can gain the Anchored VWAP from last December. 

$BONK

We've been all over the Bonk Ecosystem names lately, and hopefully, you've used our comms as alpha in your trading. While $BONK is up a modest +14.3% this week, it's up +106% over the past three weeks in a rally fueled by hopes of an ETF for the Solana memecoin. Keep an eye on that all-time high Anchored VWAP, as it could act as powerful resistance in the near term.

The $PUMP Token Launch, The 3rd Largest ICO In History

Whether you were able to participate in the $PUMP token launch or not, it was most certainly a historic day in the trenches. Here's everything we know from the on-chain numbers:

• $448.5mm worth of $PUMP was sold 

• The coin sold out in 12 minutes

• 10,145 wallets participated, out of 23,959 who KYC'd on the website. (a 42.3% buy rate).

• The average buy was $44K per wallet.

• 89% of the volume took place directly on Pump.Fun, 11% on CEXs.

  
  

And now for the juicy bit: How those wallets were allocated to the sale:

• 202 wallets bought $1mm worth

• 138 wallets bought $500K+ worth

• 445 wallets bought $100K+ worth

• 290 wallets bought $50K+ worth

• 1,030 wallets bought $10K+ worth

• 545 wallets bought $5K+ worth

• 1,737 wallets bought $1K+ worth

• 5,758 wallets bought <$1K worth

Breaking Down Jupiter's Q2 Update

This week, the team at Jupiter gave an expansive update on their plans for the remainder of the year. As these plans could drastically impact $JUP, we figured it was wise to do a little digging and get down to the meat of things for you. Here goes:

$JUP is planning major expansions into perpetual futures trading and advanced derivatives products, positioning itself as a full-service trading platform rather than just a swap aggregator. The development timeline includes new institutional-grade features, enhanced API capabilities for professional traders, and improved mobile experiences.

The team has also outlined plans for governance token utility expansion and new revenue-sharing mechanisms for $JUP holders. Their roadmap includes launching Jupiter-native products like lending protocols and yield farming opportunities, creating a more comprehensive DeFi ecosystem around their core aggregation technology.

Key Upcoming Features:

• Perpetual futures platform - Advanced derivatives trading with leverage capabilities

• Enhanced mobile app - Dedicated mobile trading application with advanced features

• Institutional API suite - Professional-grade tools for high-volume traders and market makers

• Jupiter lending protocol - Native borrowing and lending services within the ecosystem • Governance expansion - Enhanced JUP token utility and community decision-making features

Pump.Fun Has Acquired Kolscan

The recent acquisition of Kolscan, a wallet-tracking and analytics tool, by Pump.Fun was a strategic move ahead of the Pump token launch to integrate sophisticated social trading features directly into its platform.

Kolscan provides users with the ability to monitor the wallets and real-time transactions of top on-chain traders, essentially creating a leaderboard and allowing users to track and emulate successful trading strategies.

By purchasing Kolscan, Pump.Fun aims to transform its user experience from a simple memecoin launchpad into a more interactive and gamified social trading hub. This integration means Pump.Fun users will gain free access to powerful analytics tools, enabling them to make more informed decisions by observing the "smart money" on the Solana network.

The acquisition is a direct effort to increase user engagement, build a stronger community, and provide a competitive edge by turning trading into a more social and transparent activity.