Pump.fun has sparked new debate in the crypto community after snapping up $2.3 million worth of its own $PUMP token in just 20 minutes—a bold move that follows its headline-grabbing presale.
The project had recently sold off 33% of the $PUMP supply—roughly 330 billion tokens—for $0.004 each, raising $1.32 billion and giving the token a fully diluted valuation near $6 billion.
But despite the massive sale, investor confidence wavered. The rapid buyback, reportedly funded through the project’s fee wallet, appears to be a strategic effort to curb volatility and stabilize the token price.
Still, questions loom over the coin’s long-term viability. Analysts and traders have criticized $PUMP for lacking any real function—there are no governance rights, no revenue-sharing mechanisms, and no utility beyond branding.
BitMart Research and other observers argue that the token’s price might be propped up more by speculation than substance.
Trading groups like IncomeSharks were quick to voice concern, suggesting the buyback was more a sign of desperation than strength. With platform activity reportedly slowing and market attention drifting elsewhere, Pump.fun now faces a critical test: whether it can sustain interest in a token that many believe is built purely on hype.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/pump-fun-initiates-major-buyback-amid-concerns-over-pump-utility/