Pump.Fun’s buybacks exceed 4.2% of pump token supply. The pump’s market capitalization has rebounded by more than $12.9 billion, with volumes above $335 million. Pump.Fun recovered Solana’s control with 38K active users every day.
The pump token returned to the spotlight and gained momentum after a wave of aggressive buybacks by Solana-based MemeCoin Launchpad Pump.Fun.
Pump.Fun’s latest move has changed market sentiment, with traders showing new confidence in the project’s capabilities at the heart of Solana’s retail-driven activities.
Recovering fuel prices
Pump.Fun spent a lot of money on buying back in August, with more than $62 million in pump tokens being repurchased since the beginning of the month.
From August 20th to 26th alone, the platform allocated $10.66 million. This amounts to more than 99% of revenue that week.
Two weeks before the month, Pump.Fun spent another $19.26 million to scoop up nearly 300 million tokens, trimming almost 1% of the circulation supply.
These repurchases offset more than 4.2% of the total circulating supply of pumps so far.
Each repurchase reduces sales pressure and reassures investors that the platform supports native assets with revenue generated from the burgeoning activity.
This approach has increased pump prices by more than 30% in the past month, helping tokens recover from their late July lows.
The pump’s market capitalization will be rebounded by more than $1 billion.
The impact of these movements can be seen in market capitalization figures.
After a sharp fall in mid-July, the pump had returned to above the $1 billion mark, reaching around $1.29 billion as of the latest Coingecko data.
The fully diluted valuation is above $3.6 billion, reflecting the scale of long-term potential if buybacks and recruitment continue at a pace.
Trading activities are also being strengthened. Over the past 24 hours, Pump has recorded volumes of over $335 million, highlighting robust liquidity during a period when the wider Solana decentralized exchange saw a decline in participation.
This makes Positions Pump.Fun rivals established Defi players as one of the most active and profitable applications in Solana.
Pump.Fun Dominance pulls traders back
Pump.Fun’s revival has been linked to not only a buyback, but also a massive recovery in its market share.
At the beginning of August, Launchpad was over 11% of Solana Coins.
Within a few weeks, its share surged above 90%, stabilizing around 62% of the sector’s revenue.
Pump.Fun’s daily active users jump over 38,000, leaving only a small portion of the activity behind rivals like Letsbonk.
This revival was amplified by the success of tokens like $Troll, which surged 250% in August, bolstering speculative energy fueling pumps.
Over 293,000 tokens in just two weeks highlight how the platform captured the imagination of retailers seeking quick exposure to MemeCoin play.
Despite the momentum of open-pit mining, the outlook is cautious
From a technical standpoint, pump tokens are broken above the short-term moving average, with bullish indicators such as the relative strength index (RSI) and MACD.
Additionally, the current price of $0.003625 approaches a resistance level of $0.00375, an important threshold that traders are closely watching.
A clear break that passed resistance at $0.00375 allowed the door to a return above the last seen level before the sale in July.
However, there are questions about the sustainability of offensive buybacks that will shadow the pump’s long-term outlook.
In particular, more than half of the circulation supply is still concentrated on early owners, and sudden exchange inflows can cause new volatility.
