Pump.fun spent $19.2M in SOL to buy back billions of PUMP tokens, flipping its strategy from selling fees to boosting token value.
Despite viral rumors, Pump.fun’s $500M presale funds are safe and accessible, with no flaws found in its smart contract setup.
The rise of PUMP as a meta-memecoin may mark the high point of meme coin hype, shifting focus from wild bets to structured trading.
Pump.fun has shaken the crypto market with a bold $19.2 million buyback of its $PUMP token. In just eight hours, the platform deployed 118,350 SOL—worth $19.2 million—buying 3.196 billion PUMP at an average price of $0.006, according to Spot On Chain. This follows its record-breaking $500 million presale, which sold out in 12 minutes at $0.004 per token.
Previously, Pump.fun used to offload fee-generated SOL through Kraken. Since May 19, it sold roughly 4.1 million SOL—around $741 million—at an average of $180. However, the latest shift toward a buyback model signals growing confidence in PUMP’s market position. Fee revenue now supports token accumulation instead of liquidation.
Presale Panic, Smart Contract Rumors Debunked
Over the weekend, some users sparked panic by claiming Pump.fun's presale contract lacked a withdrawal function. One user even said the $500 million was “locked forever.” The post went viral, with over 780,000 views. However, further scrutiny quickly proved the claims baseless. Analysts found no fault in the contract’s structure, clearing the air.
Pump.fun confirmed that all raised funds remain accessible. The smart contract functions as intended, dismissing any allegations of being immutable or broken. Hence, concerns over permanent fund lockups are unfounded.
Meta-Memecoin Boom May Signal Cycle Peak
According to Forbes, Pump.fun has created a meta-memecoin by turning meme speculation into a single tradable token. Instead of betting on individual memes, traders now gain exposure to the entire sector. Consequently, liquidity is moving from traditional memecoins into this broader vehicle.
However, this shift may be eating into the very market it built. Much like Blur marked the peak of NFT mania, Pump.fun could symbolize the climax of meme coin hype. This meme cycle has lasted nearly six months—double the length of typical hype trends.
Besides, Pump.fun's fair-launch bonding curve and Plasma architecture add layers of utility. While speculation drove initial interest, structured participation might define its legacy. Additionally, major exchanges now list PUMP, with Hyperliquid offering 5x leverage on perps.
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