๐ $PUMP Token Erases ICO Gains as LetsBONK Surges Past Pumpfun
๐ Just days after its hyped ICO, PUMP token has fallen back to its launch price of $0.004, erasing a post-ICO surge that briefly took it above $0.006. Despite raising $600M in 12 minutes, #pumpfun now faces stiff competition from LetsBONK, which has overtaken it as Solanaโs most active memecoin generator.
๐ฅ PUMP rallied earlier in the week after a $31.3M buyback (187,770 $SOL ), part of a revenue-sharing initiative, briefly boosting the token by 17%. However, falling protocol fees and waning mint activity have since weighed down sentiment.
๐ Meanwhile, #LetsBONK โ focused on the $BONK meme ecosystem โ has gained traction fast. BONK token is up 64% since April and the platform has already eclipsed Pumpfunโs mint volumes.
Pump is attempting to regain momentum with new utility features, including:
๐ธ Fee rebates
๐ธ Buybacks using 25% of protocol revenues
๐ธ A โcommunity takeoverโ feature to revive abandoned projects
It also announced its first acquisition, Kolscan, a Solana-based tracker for top onchain wallets.
