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rizimaher

07/16 16:53

PUMP Token Soars as Pump.fun Prepares for Its Buyb

PUMP Token Soars as Pump.fun Prepares for Its Buyback

Solana-based meme coin deployer Pump.fun has allocated millions of dollars to buy back its recently launched PUMP token, driving its price higher.

Analytical platform Lookonchain disclosed this morale-boosting effort in a tweet today. Specifically, it noted that Pump.fun had prepared 187,770 SOL ($30.6 million) to repurchase a portion of its native PUMP token in circulation.

It realized the funds from its fee revenues, which recently exceeded $700 million. Recall that the platform became the fastest-growing crypto platform when it crossed $100 million in revenue in 217 days, following instant traction towards its no-code meme deployerNotably, Pump.fun resumed the buyback course today and has spent 118,351 SOL worth $19.26 million to acquire 2.99 billion PUMP. This culminated in an average price of $0.0064, which is miles above its ICO price of $0.0041752684764587.png


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