Solana News Today: PumpFun Spends $6.68M to Buy PUMP Amid Whale Selling Surge

PumpFun is taking aggressive measures to stabilize its native PUMP token as large holders continue to offload their positions, creating significant downward pressure on the asset. On August 8, 2025, the Solana-based platform transferred $5.6 million in SOL to a new wallet to facilitate a buyback campaign, according to on-chain analytics from Arkham [1]. This wallet has since spent $6.68 million on PUMP tokens, with $5.72 million moved to a Squads Vault, indicating a strategic attempt to absorb market sell pressure [1].

The initiative comes amid a wave of selling activity from early investors. On the same day, a single wallet dumped 1.11 billion PUMP tokens, amounting to $3.79 million in value and yielding a $362,000 profit [1]. Since July, presale holders have sold nearly 60% of their token supply, further exacerbating the selling pressure. Meanwhile, PUMP’s price has seen a sharp 23.9% increase over the previous week, prompting many investors to cash in, despite the token’s low turnover ratio of 0.25, which signals thin liquidity and high sensitivity to large trades [1].

To address these challenges, PumpFun has launched the Glass Full Foundation (GFF), a new initiative aimed at boosting liquidity for community-driven meme coins [2]. The foundation has already allocated $1.69 million across 10 tokens, including TOKABU and HOUSE, which collectively account for over 40% of the fund. Additionally, $350,000 remains in five wallets for potential future purchases [2]. While the foundation has not disclosed how projects are selected or where funding originates, it positions itself as a key driver of growth in the Solana ecosystem [2].

The timing of the foundation’s launch is notable, as the market is also witnessing the rise of a rival launchpad, LetsBonk.fun, which is gaining traction with support from the Bonk community and its partnership with Raydium [2]. This increased competition underscores the evolving landscape of meme coin platforms, where liquidity, governance, and community engagement play crucial roles in sustaining long-term value.

PumpFun’s buyback strategy has shown some short-term success. Between August 1 and August 8, the PUMP token experienced a 34% increase in market share and price, despite ongoing whale selling [4]. However, analysts caution that this recovery is fragile and could be undone by further large-scale selling or broader market volatility [3]. The PumpFun team has responded by continuing to invest in buybacks and community initiatives, including token burns that have already removed 8.74 billion PUMP tokens from circulation since August 1 [4].

As of the latest report, PUMP was trading at $0.0034, down 28% in the past seven days, with a daily trading volume of $300 million [1]. The token’s price remains volatile, reflecting the broader uncertainty in the crypto market, where other assets like Pendle and Pudgy Penguins have also experienced sharp price swings [6]. PumpFun’s ongoing efforts highlight the challenges faced by meme coin projects in maintaining stability amid speculative trading and concentrated ownership.

Source:

[1] title: PumpFun Buys Back PUMP Tokens Amid Selling Pressure from Whales

url: https://coinmarketcap.com/community/articles/6896421255ec7778c0d49237/

[2] title: PumpFun Launches Glass Full Foundation to Boost Meme Coin Liquidity

[3] title: Analysts Cautious on PUMP’s Short-Term Recovery Amid Whale Pressure

[4] title: PumpFun Burns 8.74 Billion Tokens as Part of Buyback Strategy

[6] title: Meme Coins Face Broader Market Volatility Amid PUMP’s Decline