Pump.fun, a Solana-based memecoin platform, has seen its native PUMP token rally more than 15% in the last 24 hours, reaching $0.004053. The surge comes after the platform executed a large buyback program, repurchasing $8.42 million worth of PUMP tokens between August 5 and 11—nearly 97.3% of its weekly revenue.
Since the launch of the buyback initiative, Pump.fun has repurchased a total of $33.61 million in PUMP, equal to 0.741% of its 1 trillion token supply. Analysts note that buybacks reduce circulating supply and can create upward price pressure, similar to stock market strategies.
The platform’s initiative has also strengthened its dominance in the memecoin launchpad sector. According to Dune Analytics, Pump.fun launched 26,836 new tokens on August 11 alone, representing 73.6% of all memecoins minted that day and surpassing competitors such as LetsBonk and Bags.
Experts suggest that if the buyback trend continues, PUMP could challenge higher resistance levels, signaling a strong resurgence in Solana’s “memecoin wars.” The initiative has boosted investor confidence and reinforced Pump.fun’s position as a leading hub for memecoin creation and trading.
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