The leading memecoin launchpad on Solana, Pump.fun, made another major buyback of its own native PUMP. During the period August 20-26, the platform repurchased $58.7 million in PUMP with its weekly revenue, which increased the token price by 4%.
According to Pump.fun’s website, the program bought back 4.261% of PUMP’s total supply, which stands at 1 trillion tokens. The current circulating supply is about 354 billion.
Pump.fun used nearly all of its $10.6 million revenue last week to make repurchases, cutting circulating supply by 4.26%. The aggressive approach to reduce selling pressure was evidenced by a prior buyback of $33 million two weeks ago.
Pump Price and Trading Volume Surge
Following the announcement, PUMP rose by 4% in the late North American session and traded at about $0.003019. The token has recovered almost 20% in the past two days, according to CoinMarketCap data.
The volume of trading increased by 17% in 24 hours to $226.3 million and its fully diluted valuation was $3 billion. PUMP remains 55% below its all-time high of mid-July.
Pump.fun is the leader in the meme launchpad market of Solana. According to Jupiter data, it commands 84.8% of the market share, with a trading volume of $790 million in over 403,000 traders in the past 24 hours. Its closest rival, LetsBONK.fun, lags far behind with just 6.07% market share and $56.6 million in daily revenue.
With consistent buybacks and strong market dominance, Pump.fun is positioning itself as the undisputed leader of Solana’s memecoin ecosystem.
Also Read: Pump.fun Revenue Tops $800M Amid Solana Memecoin Race
