Solana News Today: Pump.fun Spends $6.68M on PUMP Buybacks to Counter Sell Pressure

Generated by AI AgentCoin World
Friday, Aug 8, 2025 6:46 pm ET1min read
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Aime RobotAime Summary

- Pump.fun spent $6.68M buying 1.77B PUMP tokens via 33,000 SOL to counter whale selling and stabilize prices.

- Major sell-offs by large holders including a 1.11B PUMP dump ($3.79M) and "6wB5A2" whale's $424K profit trade.

- PUMP trades at $0.003344 (up 25.9% 7-day) but remains 50% below all-time high amid 60% presale token sell-off.

- Platform launched Glass Full Foundation for liquidity support and real-time dashboards, yet July revenue fell 80% to $24.96M.

Pump.fun, a Solana-based memecoin launchpad, is actively buying back its native token, PUMP, in an apparent effort to stabilize its price and counter selling pressure from large holders and presale investors. On August 8, 2025, on-chain tracker Arkham reported that Pump.fun transferred 33,000 SOL—valued at $5.6 million—to a dedicated wallet for strategic buybacks. The platform aims to purchase approximately 1.77 billion PUMP tokens at current market rates. To date, the wallet has bought $6.68 million worth of PUMP, with $5.72 million of those tokens already moved into a Squads Vault [1].

The aggressive buyback comes amid increased selling activity from large holders and presale participants. On the same day, Onchain Lens noted a single wallet dumping 1.11 billion PUMP tokens worth $3.79 million. Another whale, identified as “6wB5A2,” sold 130 million PUMP for $424,700 in

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, marking a $362,000 profit. The investor had previously spent $5.25 million on multiple PUMP purchases during the public sale and still holds approximately 1.17 billion tokens, with unrealized losses of about $898,000 [1].

Since July, nearly 60% of presale tokens have been sold, increasing market supply and downward pressure on PUMP’s price. In response, Pump.fun has enhanced transparency by launching a real-time revenue dashboard, allowing users to track daily trading volume and token purchases. Over the past six days, the platform has spent roughly 8,740 SOL—equivalent to 102% of its total revenue during that period—on buybacks [1].

At the time of reporting, PUMP was trading at $0.003344, up 1.6% in the past 24 hours and 25.9% over the last seven days. However, the token remains over 50% below its all-time high of $0.006812 and is still down from its peak. The 24-hour trading volume has also fallen to approximately $278 million, reflecting a 10.9% decline from the previous day [1].

In parallel, Pump.fun has launched the Glass Full Foundation (GFF), a new initiative aimed at providing liquidity support for promising projects on its platform. The foundation is expected to stabilize the rapidly growing

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memecoin ecosystem by injecting capital into selected tokens. The move coincided with Pump.fun regaining its lead over rival letsBONK.fun, with higher trading volume, revenue, and token graduations [1].

Despite these efforts, the broader meme coin market remains volatile, with Pump.fun’s monthly revenue dropping to a 2025 low of $24.96 million in July—an 80% decline from its January peak. The platform’s recent resurgence in activity highlights the competitive nature of the Solana memecoin space, but questions persist about the long-term sustainability of buyback-driven strategies in the face of ongoing sell pressure [1].

Source:

[1] title: Pump.fun Buys Back $6.68M PUMP in SOL Blitz – Bid for Solana Meme Leadership?

url: https://cryptonews.com/news/pumpfun-buys-back-12-4m-pump-in-sol-blitz-bid-for-solana-meme-leadership/