Isabella García
Pump.fun, a Solana-powered meme-coin launchpad, has initiated a significant buyback campaign for its native $PUMP token, using revenue from platform fees to purchase tokens shortly after its highly volatile public launch.
According to Solscan onchain data, the project moved approximately 187,770 SOL (around $31.3 million) into a dedicated buyback wallet late Tuesday. Of this, about 118,351 SOL (valued at $19.3 million) was already used to repurchase nearly 3 billion $PUMP tokens at an average price of $0.0064 per token, as reported by Lookonchain.
Revenue Sharing and Buyback Strategy Could Create Sustained Token Demand
Earlier reports by PRIME highlighted that Pump.fun is considering sharing protocol revenues with $PUMP holders. Research from Delphi Digital suggests that the platform could allocate up to 25% of its fee income to daily token buybacks, creating steady buying pressure.
Delphi Digital’s July 10 report stated, “If Pump.fun dedicates 25% of revenues from both its launchpad and AMM operations, token holders might see about $369,000 in daily $PUMP purchases, translating to roughly $134.6 million annually.”
Token Price Reacts Strongly to Buyback News
The announcement of the buyback sparked a 17% price surge on Tuesday, lifting $PUMP to approximately $0.0067, up from its original coin offering price of $0.004. The recent public sale generated an impressive $600 million in just 12 minutes, initially valuing the token with a fully diluted valuation (FDV) near $4 billion.
As of the time of writing, $PUMP holds a market cap of $2.4 billion with a $6.7 billion FDV, according to PRIME’s price tracker.
Competition Heats Up in Meme-coin Launchpad Space
Pump.fun’s successful ICO and aggressive buyback plan come amid growing rivalry in the Solana meme-coin launchpad market. Newcomer LetsBonk recently launched with significant attention, surpassing Pump.fun in daily fee generation and token launches, based on PRIME’s data insights.
