The recent buyback comes amid growing skepticism about the fundamental value of the PUMP token. A report from BitMart Research highlights the lack of real utility of the token despite the increase in the price of PUMP before the market opens.

Unlike other cryptocurrencies, PUMP does not grant governance rights, revenue-sharing rights, nor does it have an active role in the platform, beyond marketing the brand of the site Pump.fun, which has raised some doubts about its ability to maintain its value.

The sale of Pump.fun has generated mixed reactions. Despite the success of the sale, other industry players, such as IncomeSharks, have also expressed doubts about the future of the token. IncomeSharks stated:

“It means something bad when they start selling their own token, because no one is interested in it anymore.”

Moreover, although Pump.fun had been successful previously, it has been losing market share and activity, which may indicate difficulties in maintaining its user base and ensuring regular demand for the token.

$PUMP