TLDR
- PUMP token gains 8-10% following $12.2 million buyback representing 98% of weekly revenue
- Pump.fun becomes top crypto protocol by daily fees, generating $5.73 million in 24 hours
- Platform controls 75% of Solana meme coin market with 27,000 tokens created daily
- New Dynamic Fees V1 model reduces creator costs as projects scale up
- Trading volume surges 13% to $354 million confirming strong buying interest
The PUMP token has gained 8% today as Pump.fun announces its latest buyback program worth $12.2 million. The Solana-based memecoin launchpad has captured market attention by becoming the leading crypto protocol by daily fee generation.
PUMP now trades at $0.004204 after recovering from support near $0.0027. The price surge follows Pump.fun’s announcement that it spent 98.23% of last week’s revenue on token repurchases between August 28 and September 3.
The buyback program has reached nearly $72 million in total value since inception. These purchases have reduced PUMP’s circulating supply by 5.36%, creating deflationary pressure on the token.
Pump.fun generated $5.73 million in daily fees over the past 24 hours according to DefiLlama data. This places the platform third only behind stablecoin giants Tether and Circle in protocol rankings.
The fee surge stems from Pump.fun’s new creator model launched through Project Ascend. The Dynamic Fees V1 system introduces tiered pricing that decreases as token market caps grow.
Platform Dominance Drives Revenue Growth
Pump.fun now controls 75% of Solana’s meme coin ecosystem compared to competitors like LetsBONK.fun. The platform facilitated creation of nearly 27,000 tokens in 24 hours with $588 million trading volume.
This dwarfs LetsBONK.fun’s $80 million volume, highlighting Pump.fun’s market leadership. The platform’s dominance translates directly into higher fee collection and revenue generation.
Trading volume for PUMP increased 13% to reach $354 million, confirming strengthening buy-side pressure. When price and volume rise together, it signals broad market participation supporting the rally.
Previous buybacks have shown strong results for PUMP holders. August purchases totaling $33 million sparked a 15% price rally and helped cement the platform’s 77% market share.
The consistent repurchasing provides institutional-scale support during volatile market conditions. Last week’s $12.2 million exceeded the prior week’s $10.6 million buyback, showing accelerating commitment.
PUMP Price Prediction
Technical indicators support continued upward momentum for PUMP price. The token trades above its 20-day exponential moving average at $0.003482, indicating short-term bullish control.
Bulls could target $0.004572 if current momentum holds. A break above this resistance level might open the path toward $0.005177 based on chart analysis.
However, profit-taking could push PUMP below $0.004027 support. The token has shown resilience during broader altcoin corrections, making it one of few gainers recently.
Project Ascend’s creator rewards could drive long-term adoption. The system allows creators to earn “10x more” as their projects scale, potentially increasing platform usage and fee generation.
