Pump.fun Announces Another Buyback as PUMP Price Rises 8%

Pump.fun, the leading memecoin launchpad in the Solana (SOL) ecosystem, has confirmed another major buyback of its native token, PUMP. Pump.fun has intensified its grip on Solana’s meme coin ecosystem with another large-scale buyback of its native PUMP token.

Pump.fun Boosts Investors’ Confidence With Fresh Buyback Move

In a statement shared on X (formerly Twitter), the platform confirmed it spent $12.19 million on repurchases between August 28 and September 3, which represents 98.23% of its weekly revenue.

This latest buyback brings the total value of PUMP repurchases to nearly $72 million since the program began, reducing circulating supply by 5.36%.

The move builds on earlier August activity, when Pump.fun bought back $33 million worth of tokens, a purchase that sparked a 15% rally and cemented its 77% market share in Solana’s meme coin launchpad space.

Last week’s purchases surpassed the prior week’s $10.6 million buyback, highlighting consistent institutional-scale support. These timely repurchases reflect a stabilising force for PUMP amid broader altcoin volatility and the project’s aggressive approach to reducing supply and propping up long-term market confidence.

PUMP Price Reacts to Aggressive Market Support

Following the latest announcement, the PUMP token regained bullish momentum. Data from CoinMarketCap shows the price rebounded from strong support near $0.0027 to trade around $0.00432 on September 4 during mid-New York sessions.

This marked an 8% price rise, positioning PUMP as one of the few altcoins to show resilience during a market correction that shaved 2.2% off total crypto capitalisation.

Pump.fun’s growing dominance has been another key factor. The platform controlled 75% of Solana’s meme coin activity, minting nearly 27,000 tokens in just 24 hours, with a trading volume of $588 million compared to LetsBONK.fun’s $80 million. This commanding position confirms Pump.fun’s unmatched dominance in Solana’s memecoin ecosystem.

Project Ascend Drives Long-Term Optimism

At the same time, Pump.fun has kicked off Project Ascend, a major update designed to make token launches more sustainable. The initiative introduces Dynamic Fees V1, a tiered fee system that lowers creator costs as projects scale. According to Pump.fun’s post on X, this means creators could earn “10x more” over time, while the model also rewards projects that stick around for the long run.

The launch of Project Ascend sparked a 14% surge in PUMP price, adding momentum to the token’s buyback-fueled recovery. The new structure is designed to attract streamers, startups, and creators by rewarding higher-market-cap projects with lower fees

Coingape Staff

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