Pump.fun, the leading memecoin launchpad on Solana, has announced another major buyback of its native PUMP token, reinforcing its strategy of using platform revenue to support token value.
Between August 20 and 26, Pump.fun allocated nearly all of its revenue to the repurchase program, bringing total buybacks to $58.7 million. That figure accounts for about 4.3% of PUMP’s total supply, significantly reducing circulating tokens. Just two weeks earlier, the platform spent $33 million on a similar buyback, highlighting its aggressive approach to supply control.
Market Reaction: Price and Volume Spike
Following the announcement, PUMP gained 4% to trade at $0.003019, marking a 20% rebound over the past two days. Trading volume also climbed 17% to $226.3 million. Despite the rally, the token remains 55.7% below its July 16 all-time high of $0.0068. Analysts note that buybacks have helped stabilize the token after it bottomed near $0.00228 at the end of July.
Dominating Solana’s Meme Market
Pump.fun continues to control Solana’s memecoin scene with roughly 84% market share. Data from Jupiter shows the platform facilitated $781 million in trading volume from 413,000 users in the past 24 hours.
By comparison, its closest rival, LetsBONK.fun—backed by the Bonk (BONK) token—saw $53.1 million in daily revenue and about 33,300 traders, giving it just 5.7% of the market. Pump.fun also outpaces competitors in token creation, recording more than 25,000 new mints in a single day compared to just over 400 on LetsBONK.fun.
The platform’s dominance has been further strengthened by initiatives like the Glass Full Foundation, which provides liquidity support to standout meme projects.
With buybacks reducing supply and trading activity remaining high, Pump.fun appears to be cementing its lead in Solana’s meme economy—even as PUMP works to recover from its post-ATH correction.
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Source: https://coindoo.com/massive-buyback-sends-pump-token-soaring-20-in-two-days/