Solana News Today: Pump.fun's Buybacks Signal War on Selling Pressure in Memecoin Market

Pump.fun, the dominant memecoin launchpad on the Solana (SOL) ecosystem, executed a $58.7 million PUMP token buyback between August 20 and 26, representing approximately 99% of its weekly revenue. This repurchase reduced the circulating supply of PUMP tokens by 4.261%, equivalent to 4.3% of the total supply of 1 trillion tokens. The buyback is the latest in a series of strategic moves to reduce selling pressure and stabilize the token’s price. The initiative follows a previous buyback of $33 million in early August, which accounted for about 1% of the token’s supply at that time [1].

In response to the buyback announcement, the price of PUMP increased by 4%, reaching $0.003019 during late North American trading hours. Over the past two days, the token’s price rebounded by as much as 20%, despite still trading 55.7% below its all-time high of $0.006888, set on July 16, 2025. Additionally, PUMP’s 24-hour trading volume surged by 17%, reaching approximately $226.3 million, reflecting heightened market activity and investor interest in the token [2].

The move underscores Pump.fun’s dominant position in the Solana-based memecoin launchpad market. As of the latest data, Pump.fun controls an 84.1% market share, generating $781 million in average daily trading volume from 413,000 traders. The platform’s closest competitor, LetsBONK.fun, accounts for only 5.72% of the market, with $53.1 million in daily revenue from around 33,300 traders. Pump.fun’s leadership has been further reinforced by its launch of the Glass Full Foundation, which supports liquidity for its most active meme projects, as well as by surpassing $800 million in cumulative lifetime revenue [1].

The buyback strategy has also had a measurable impact on token mints, with Pump.fun recording 25,354 new token creations in the past 24 hours compared to only 419 on the LetsBONK.fun platform. This disparity highlights Pump.fun’s ability to attract developers and traders, despite the competitive pressures from newer launchpads. Analysts suggest that the buyback not only stabilizes the PUMP token but also signals the platform’s commitment to long-term value creation for its users [1].

While Pump.fun remains the market leader, the memecoin space continues to evolve rapidly. Competitors such as LetsBONK.fun and emerging platforms on blockchains like Base are intensifying competition. Despite a recent decline in LetsBONK.fun’s revenue, the memecoin market remains highly volatile, with platforms capable of shifting momentum quickly. For now, Pump.fun’s strategic buybacks and ecosystem development efforts have helped it maintain its position at the forefront of the Solana memecoin boom [8].

Source:

[1] title1 (https://coingape.com/pump-fun-purchased-10m-worth-of-pump-last-week/)

[2] title2 (https://www.mexc.com/news/pump-fun-buys-back-58m-pump-tokens-price-up-4/76536)

[3] title3 (https://www.chaincatcher.com/en/article/2201388)

[4] title4 (https://www.mexc.com/price/PUMP)

[5] title5 (https://www.gemini.com/prices/pump)

[6] title6 (https://www.kraken.com/prices/pump)

[7] title7 (https://cryptorank.io/news/feed/b0355-pump-fun-solana-market-share-decline-2)

[8] title8 (https://blockonomi.com/pump-fun-surges-letsbonk-crashes-whats-next-for-the-memecoin-market/)