The native token of Solana-based meme coin platform Pump.enjoyable surged almost 20% on July 16, briefly reaching a brand new all-time excessive following the launch of a large-scale buyback marketing campaign.
After reaching a excessive of $0.00681, PUMP is buying and selling at about $0.0063 on the time of writing, up about 14% on the 24-hour timeframe. The rally was pushed by information that Pump.enjoyable has begun shopping for again tokens utilizing platform-generated charge income.
Based on on-chain knowledge shared by Lookonchain, the platform allotted 187,770 Solana (SOL), price about $30.6 million, from its charge reserves to fund the buyback. Thus far, 118,351 SOL, about $19.26 million, has been spent buying roughly 2.99 billion PUMP tokens at a mean worth of $0.0064.
Pumpfun(@pumpdotfun) ready 187,770 $SOL($30.6M) in charge income to purchase again $PUMP.
Thus far, the buyback pockets has spent 118,351 $SOL($19.26M) to purchase 2.99B $PUMP at a mean worth of $0.0064.https://t.co/P1uqlkfdx6 pic.twitter.com/3chMjzkPsj
— Lookonchain (@lookonchain) July 16, 2025
The buyback seems to be a part of an effort by Pump.enjoyable to stabilize its token after a unstable begin. Following its public sale, which raised $600 million in simply 12 minutes by promoting 15% of the token provide, PUMP debuted on main exchanges with a completely diluted valuation of $4 billion. Nonetheless, as a result of important profit-taking by early buyers, the token quickly fell greater than 40%.
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Market sentiment is now cautiously optimistic on account of the buyback, which has reignited curiosity within the token regardless of its rocky debut. Some analysts proceed to query the transfer’s sustainability, whereas others interpret it as a present of confidence from the Pump.enjoyable staff.
Critics have pointed to the token’s restricted utility, as PUMP affords no governance, staking, or revenue-sharing mechanisms. They argue that with out addressing structural flaws, the buyback would possibly solely serve to prop up the worth.
The buyback launch comes as competitors heats up within the memecoin launchpad house. A competitor platform, LetsBonk, just lately overtook Pump.enjoyable by way of every day launchpad quantity and token commencement charges. Pump.enjoyable’s personal metrics have additionally declined, with platform quantity dropping from $11.6 billion in January to $3.65 billion in June, as per DefiLlama knowledge.
In an effort to regain its dominance, Pump.enjoyable has acquired analytics platform Kolscan and carried out time-weighted common worth buyback methods funded by charge wallets. For now, the market seems to be responding positively to those efforts.
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