News View Non-AMP

Pump.fun Raises $1.3B, Buys Back PUMP Worth $2.3M

Published by
Debashree Patra and Qadir AK

Pump.fun, the Solana-based meme coin platform, is back in the spotlight with a hefty $2.3 million buyback of its native token, PUMP, executed in just 20 minutes. The move caused a 13–15% price surge, pushing the token to $0.00656 and reigniting investor interest. But beneath the buzz, concerns over its long-term value and utility are surfacing. 

This buyback comes shortly after Pump.fun’s headline-grabbing token sale, which raised $1.32 billion by selling 33% of its 1 trillion token supply at $0.004 per token. That sale pegged PUMP’s fully-diluted valuation (FDV) at a whopping $5.97 billion. The project used fees collected from the platform to fund the buyback, which acquired over 3 billion tokens, according to on-chain data from EmberCN.

Utility Concerns Overshadow Hype

While the buyback shows strong market activity, the lack of utility remains a sticking point. PUMP doesn’t offer governance rights, revenue-sharing, or any direct function within the platform. Its only role appears to be branding and speculation.

As the BitMart Research report notes, this makes the token vulnerable to long-term decline and extreme price volatility. Critics like IncomeSharks also argue that selling a third of the token supply only to repurchase it days later suggests dwindling interest and possible manipulation.

“Pumpfun sold tokens at $0.004 a few days ago and is now buying back these same tokens with the same money for $0.006. Crypto is not a serious industry,” said one viral post on X.

A Temporary Boost or a Bigger Plan?

Though PUMP’s market cap now sits at $2.11 billion, its price is still down 4% over the past week, showing shaky momentum. The recent spike may have been driven largely by the buyback announcement and not by organic demand. Some see this as a calculated marketing move to keep attention high, especially as Pump.fun faces declining platform activity and market share. 

Meanwhile, Pump.fun isn’t alone. Other projects like FET, AAVE, IOST, and ZKJ have also joined the buyback trend, raising questions about whether this is strategic financial engineering or a band-aid for deeper issues.

For now, PUMP is riding the wave. But without a clear utility roadmap, its future remains uncertain.

FAQs

What is Pump.fun?

Pump.fun is a cryptocurrency launchpad built on the Solana blockchain. It allows users to easily create and immediately trade new tokens, primarily meme coins, without needing extensive technical expertise. It also facilitates a process called “graduation” for successful tokens to move to decentralized exchanges.

Where can you buy the PUMP token?

You can buy the PUMP token on various centralized cryptocurrency exchanges (CEXs) such as Kraken, Bitget, Gate.io, Bybit, KuCoin, and Coinbase (among others that list it). It’s also traded on decentralized exchanges (DEXs), especially on the Solana network.

Debashree Patra and Qadir AK

Fun-loving and cheerful, a passionate blockchain and crypto writer who knows no boundary…connect if you share the same passion. With 10+ years of writing experience, I am a Crypto Journalist by chance, exploring, and learning all the dynamics of the sci-fi action-filled crypto world. Currently, focusing on cryptocurrency news and price data. With a passion for research and challenging my capabilities, I am slowly getting into the crypto arena to bring new insights every day.

Recent Posts

Bitcoin, Ether ETFs Bleed Millions Ahead of Fed Chair Jerome Powell Speech Today

The crypto market is tense today.  Hours before U.S. Federal Reserve Chair Jerome Powell delivers…

September 23, 2025

Is DOGE Price Poised for a Rally? Is it a Good Time to Buy Dogecoin?

The bears had a significant impact on the cryptocurrency markets during the past weekend, causing…

September 23, 2025

Top 5 RWA Tokens To Buy in Q4 2025

These days the integration of traditional assets into blockchain is not slow anymore; the sector…

September 23, 2025

Trump-Linked WLFI to Launch Debit Card and Retail App ‘Very Soon’

Trump-backed World Liberty Financial (WLF) is stepping up its crypto game, launching new products and…

September 23, 2025

Bitcoin , Ethereum and XRP Price Prediction Ahead of Powell Speech Today -23rd SEP

The financial markets are bracing their seats with tighter grip for heightened volatility as traders…

September 23, 2025

Top 20 Cryptos in Focus as WisdomTree Files Fund in Delaware

WisdomTree has registered its CoinDesk 20 Fund in Delaware, designed to track the top 20…

September 23, 2025