Pump.fun (PUMP) has surged by 7% in the past 24 hours after breaking past a key technical indicator. This Solana-based launchpad continues to capture significant volumes despite the bear market, as traders appear to be coming back to speculate on memecoins. According to data from Lookonchain, over $92 million worth of PUMP (around 52 billion tokens) was unlocked on July 14 alone. PUMP Token Release Scheduled – Source: TokenomistMeanwhile, on-chain data from Tokenomist indicates that around 2.7 billion PUMP tokens will be freed in August as well. In such a case, the price could drop back to the 200-day EMA to find the necessary liquidity to resume its uptrend.