Solana News Today: Pump.fun's Aggressive Buybacks Spark 20% Token Surge

Pump.fun, the leading memecoin launchpad on the Solana (SOL) ecosystem, has continued its aggressive buyback strategy by purchasing $58.7 million in PUMP tokens between August 20 and 26. The buyback, funded almost entirely by the platform’s revenue of $10,657,503 during the same period, accounts for 99.32% of the platform’s total earnings over the week [3]. This move has resulted in a reduction of the token's circulating supply by 4.261%, representing 4.3% of the total supply of 1 trillion PUMP tokens [1].

The buyback program has had a direct impact on the PUMP token’s price dynamics. Following the announcement, PUMP’s price rose by 4% to reach approximately $0.003019 in late North American trading hours. Over the past two days, the token has rebounded by as much as 20%, despite still being down 55.7% from its all-time high, recorded on July 16, 2025 [1]. The token’s 24-hour traded volume surged by 17% to about $226.3 million, reflecting increased market activity and investor interest.

Pump.fun’s buybacks are part of a broader effort to stabilize the PUMP token and reduce downward pressure. Since hitting an all-time low of $0.002283 on July 29, 2025, the token has remained in a consolidation phase, with the buyback strategy serving as a mechanism to maintain price stability and investor confidence. This is the second major buyback within two weeks, following an earlier repurchase of $33 million worth of PUMP tokens in early August [2].

The launchpad’s dominance in the Solana meme coin ecosystem is also evident in its market share. According to Jupiter data, Pump.fun controls 84.1% of the market, with $781 million in average 24-hour trading volume from 413,000 traders. Its closest competitor, LetsBONK.fun, holds 5.72% of the market share with $53.1 million in 24-hour revenue from around 33,300 traders [2]. Pump.fun has further solidified its position by reaching a cumulative lifetime revenue of over $800 million and launching initiatives like the Glass Full Foundation to support liquidity for high-potential meme projects.

The platform’s influence extends beyond revenue and market share. Pump.fun has also driven significant token activity, recording 25,354 token mints in the past 24 hours, vastly outpacing the 419 mints on the competing LetsBONK.fun platform. This level of engagement underscores its role as a key infrastructure provider for memecoins on the Solana network and highlights the platform’s growing appeal to both traders and developers [2].

The continued buyback strategy reflects a broader trend among crypto platforms to use token repurchases as a means of signaling confidence and managing market sentiment. However, investors remain cautious given the broader market context, with PUMP’s fully diluted valuation of $3 billion still significantly below its peak. As the platform continues to repurchase tokens and reduce circulating supply, the long-term impact on price and market perception will depend on broader industry trends and the sustainability of buyback programs [4].

Source:

[1] Pump.fun Buys Back $58M PUMP Tokens; Price Up 4% (https://coingape.com/pump-fun-purchased-10m-worth-of-pump-last-week/)

[2] Pump.fun Buys Back $58M PUMP Tokens; Price Up 4% (https://www.mexc.com/news/pump-fun-buys-back-58m-pump-tokens-price-up-4/76536)

[3] Pumpfun has repurchased over $58 million PUMP ... (https://www.chaincatcher.com/en/article/2201388)

[4] Pump Fun purchased $10.6575 million worth of ... (https://www.panewslab.com/en/articles/4bb3daba-fbca-4f43-8f33-7e13953f77fa)