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    Pump.fun Invests $62M in Buybacks to Stabilize PUMP Value

    Ethan CarterBy No Comments2 Mins Read
    1756564103

    Pump.fun has invested over $62.6 million in repurchasing its native token, PUMP, as per data from Dune Analytics. These buybacks have absorbed more than 16.5 billion tokens at an average price of $0.003785, with the goal of stabilizing price movements and alleviating selling pressure.

    The buyback strategy relies on revenue generated by the platform, mainly from fees charged to users launching memecoins, to conduct daily token repurchases. Over the past week, daily buybacks have consistently ranged from $1.3 million to $2.3 million, according to Dune Analytics data shows.

    Since its inception, Pump.fun has generated over $775 million in revenue, according to DefiLlama. Notably, the platform experienced a significant revenue decline from July 28 to Aug. 3, generating only $1.72 million in weekly revenue—its lowest since March 2024.

    Meanwhile, the buyback initiative seems effective, with PUMP gaining over 12% in the past month and approximately 9% in the past week. The token is currently priced at $0.003522, reflecting a 54% increase from its August low of $0.002282.

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    Pump.fun spends over $62 million to buy back tokens. Source: Dune Analytics

    Related: How Pump.fun raised $500M in 12 minutes, and what it says about retail FOMO

    PUMP holder count exceeds 70,000

    Onchain data indicates a healthy rise in user participation, with the number of unique PUMP holders increasing to over 70,800. Smaller wallets (<10K PUMP) now represent 46% of the distribution, showing a growing retail engagement.

    This growth occurs as the Pump.fun platform has recently struggled to maintain its leading position in the Solana memecoin launchpad rankings. On July 7, a newly launched Solana platform, LetsBonk, took the lead for 24-hour revenue, surpassing Pump.fun.

    According to the Solana decentralized exchange (DEX) aggregator Jupiter, LetsBonk’s dominance persisted throughout July, capturing more market share than Pump.fun on several occasions.

    Nonetheless, Jupiter data suggests that Pump.fun has regained the No. 1 position. In the last week, the platform has held a 73% market share with $4.5 billion in trading volume, while LetsBonk’s market share has dwindled to below 9%, with $543 million in volume.

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    Pump.fun reclaims top spot among Solana launchpads. Source: Jupiter

    Related: Pump.fun private sale investors send over $160M to exchanges

    Pump.fun faces $5.5 billion lawsuit

    While Pump.fun continues to gain traction, it is currently under significant legal scrutiny. A class-action lawsuit filed on Jan. 30 accuses the platform of employing “guerrilla marketing” tactics to create artificial hype and urgency concerning highly volatile tokens.