Pump.fun focuses on CTO tokens, pushing TROLL to an all-time peak

Source Cryptopolitan

Pump.fun tries to stay afloat and retain its leading position by focusing on community tokens. After the platform presented its best picks of community memes, TROLL rose to an all-time peak. 

Pump.fun shifted its focus from raw token creation to boosting community tokens. The platform assigns special status to some of its memes, allowing them to have a share of revenues. 

Pump.fun posted a banner with its most prominent tokens, causing one of the first community memes to go vertical and reach an all-time peak. 

A new special class is emerging, aiming to repeat the success of the first wave of community tokens. Pump.fun has added a short list of ‘CTO’ tokens, standing for Community Takeover. 

CTO tokens enjoy a higher social media profile and better curation, leading to more sustainable levels of activity. CTO tokens emerged as trench memes, but are aiming to retain activity where most tokens are abandoned within 30 days. 

A CTO may also happen following the initial sell-off from developers, giving the tokens a second chance. In the case of Pump.fun, tokens are recognized as official CTO, gaining additional exposure. 

TROLL was one of the recently recognized tokens, leading to its current record trading activity. 

TROLL rallies to all-time high

After the recognition of TROLL as a CTO token, the asset started its rally from $0.02. Within days, TROLL increased its mindshare by over 234%, based on Messari’s tracking. TROLL has been building positions since May, with some inflows of smart money, but only had its breakout in the past week. 

Pump.fun focuses on community tokens, sends TROLL to all-time high.
TROLL rallied to $0.17 after months of preparation and accumulation, as Pump.fun granted the project official CTO status. | Source: CoinGecko.

TROLL has the advantage of a KuCoin listing, though most of the activity is still happening on the native PumpSwap DEX, as well as Meteora. The token is liquid enough, with the top trader realizing $1.3M in gains. 

However, TROLL is not being crashed to zero, as one of the top whales still bought near the top. 

TROLL is now the third-largest token in the Pump.fun ecosystem, almost catching up with Peanut the Squirrel (PNUT). The token still has a $220M market capitalization, relatively low for memes. A new turnover is happening in the Pump.fun token ecosystem, introducing a new list of tokens with the potential to rise in the charts. 

Pump.fun burns PUMP tokens to boost price

Pump.fun has not sent out SOL to exchanges in a few weeks, instead accumulating the fees for a buyback and reward program. 

To date, Pump.fun has repurchased PUMP for 139,759 SOL, valued at over $23M. In the past few weeks, this helped PUMP inch up from its lows of $0.002 to $0.0034, following a boost from Bybit trading activity. 

For now, PUMP is still being sold by whales, as it retains a long list of early backers. Some early buyers are even selling at a loss to recoup some liquidity. 

Pump.fun aims to rebuild its reputation as the leading platform, as it recently recovered its top spot in terms of new tokens created. In the past 24 hours, Pump.fun deployed 15,031 tokens, while LetsBonk.fun stalled at 12,236 tokens. Other contenders are launching a few hundred tokens, with Bags Tokens achieving 2,569 token launches.

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Disclaimer: For information purposes only. Past performance is not indicative of future results.
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