The price of PUMP rose more than 15% in one day and reached $0.004092 after Pump.fun announced a significant token purchase. According to TradingView's chart, the price of PUMP has risen by 27.67% this week, but has fallen by 0.61% last month.
However, its recent increase suggests greater optimism among traders. This surge comes after increased market activity. It also demonstrates market confidence in the current commitment of the project team to the token buyback.
The Pump.fun platform revealed that it repurchased approximately $8.42 million in PUMP between August 5 and August 11. This amount represented 97.29% of its total revenue for the week.
According to company data, Pump.fun has repurchased $33.13 million in PUMP since the start of the program. This represents 0.729% of the total supply of 1 trillion PUMP tokens.
The transaction reinforces the goal of reducing the token supply and increasing its value, contributing to the current price surge. According to on-chain data published by Pump.fun, the current weekly buyback is one of the largest since the program's launch.
The buyback coincides with the increasing trading volume of PUMP, driven by higher market demand. Revenue metrics and purchasing patterns suggest that there was a significant increase in token purchases in early August. The maximum value was recorded on August 10, before a slight decline.
According to the latest analyses, Pump.fun is approaching a buyback rate of 100% on revenue. It is an achievement that very few tokenomics-driven projects have accomplished.
The combination of increased buybacks from Pump.fun and market activity will drive long-term growth of the ecosystem. According to market analysts, if the trend continues, PUMP is likely to test higher resistance levels in the coming weeks.
Pump.fun regained leadership in the meme coin launch platform on Solana, surpassing LetsBonk. According to data from Adam Tehc's Dune panel, on August 11, 26,836 tokens were issued through Pump.fun. This represents 73.6% of the total 36,458 tokens launched that day.
