Trading activity on Pump.fun [PUMP] surged through early August, reversing the decline in revenue seen for most of Q2. Pump.fun’s reliance on speculative trading activity to generate revenue means that lower-than-average volumes quickly reverse the improvement. PUMP volume tests fee growth durabilityThe bigger test now is whether Pump.fun can maintain the activity behind its record-fee week. Meanwhile, Pump.fun directed about $5.02 million toward buying and burning 2.15 billion PUMP. PUMP unlocks outpace weekly burns The latest buyback now faces a larger supply event that could offset its immediate impact.