Pump.fun, the Solana-based memecoin launchpad, has executed an aggressive buyback strategy for its native PUMP token, spending over $62.6 million to repurchase 16.5 billion tokens. The program, funded by platform revenue from user fees, targets an average cost of $0.003785 per token. Daily repurchases ranged between $1.3 million and $2.3 million in the past week.
The buyback has significantly impacted PUMP's price, which currently trades at $0.003522—a 54% increase from its August low of $0.002282. Over the past month, PUMP gained 12%, with consistent buying pressure stabilizing its price action.
Platform activity reached record levels in August, with 1.35 million active addresses and the creation of 595,000 new tokens. This helped Pump.fun reclaim a 46.6% market share among Solana launchpads, outperforming rival LetsBonk (which holds less than 9%). However, traders collectively lost $66 million, with over 60% ending the month in the red. Approximately 882,000 wallets (65.4% of users) lost between $0–$1,000.
PUMP's holder base expanded to over 70,800 addresses, with smaller wallets (holding <10,000 tokens) representing 46% of distribution. Despite growth, the platform faces a $5.5 billion class-action lawsuit alleging it operates as an "unlicensed casino" and uses guerrilla marketing to hype volatile tokens.