- The pump is 15% higher thanks to the wallet top-up of $2.16M in buyback.
- Pump.fun used 129,100 SOL to buy back 3.8B tokens.
- Launchpad dominance shifts amid fierce competition.
The native token PUMP of Pump.fun saw an increase of fifteen percent after a fresh fuel injection. There was a massive 12,000 SOL (or about 2.16 million) transaction for the project. This action represents a very firm reaffirmation of the buyback policy, which makes investors enthusiastic about the Solana blockchain.
Source – X
187,770 SOL ($30 million) was the amount that Pump.fun used two weeks ago to fuel their repurchase activity. So far, 129,100 SOL (~$21.5 million) has been spent on repurchasing PUMP tokens, with an average purchase price of 0.0056. This is a forceful amassing that has made supply strained and contributed to pushing the price of PUMP up.
Buyback Blitz: What It Means for PUMP Holders
The renewed buyback push is no mere gesture. Pump.fun went all-in on repurchases of the tokens with transaction fees. Such a type of 100% revenue buyback will catalyze scarcity and seek to inflate token prices in a competitive launchpad market.
Source – X
Despite this, Pump.fun faces fierce rivals. Most of the market share is held by new launchpads, such as LetsBONK and LaunchLab, and the activity of Pump.fun remains lower, and, therefore, the future of its market leadership becomes questionable. Nevertheless, the fact that the buyback wallet is filled with SOL indicates the possibility of a price floor and a new phase of a rally.
Source – CMC
Market data shows PUMP trading at 0.002978 and up 20% in 24 hours with a market cap of over $1 billion. There was also an increase in the daily trading volume to 650 million, as it was being stimulated by the renewed investor interest that was being strained by these buybacks.
The aggressive buyback by Pump.fun also momentarily made the market cap of PUMP higher than that of a competitor, BONK, making short-term headlines. However, there is still market leadership instability where the competitors are regaining their footing.
Buybacks: Is It a Sustainable Strategy or a Spike?
There are numerous questions despite the fact that buybacks are a sign of confidence. The lack of clarity as to who is in control and the lack of clarity as to how the additional airdrop of Pump.fun is carried out is rather suspicious. The question that the investors are discussing is whether the buybacks will be enough to maintain the positive trend, or it is just hype.
On-chain metrics show that the recent inflows to PUMP have grown by 135 percent, which proves the conviction of traders. Technical indicators like Balance of Power show that the market is currently owned by the buyers, and the resistance at the level of $0.0032 can soon turn into support.
The crucial aspect will be the ability of Pump.fun to use buybacks and more transparent roadmaps and incentives. Any major move would reestablish Pump.fun’s credibility and win back more users in the ever-changing launchpad market.
