Pump.fun, the dominant Solana meme coin launchpad with 77% market share, confirmed a $12.19 million buyback of its PUMP token between August 28 and September 3, representing 98.23% of that week's revenue. This marks one of its largest weekly repurchases, surpassing the previous week's $10.6 million buyback. Total repurchases have now reached nearly $72 million, reducing PUMP's circulating supply by 5.36% since the program began.
The buyback immediately drove an 8% price increase from $0.0027 to $0.00432, with 24-hour trading volume surging to $588 million. The platform also launched Project Ascend, introducing Dynamic Fees V1 - a tiered fee system that lowers costs for smaller launches and rewards long-term creators, potentially allowing them to "earn 10x more" over time.
With over 70,800 unique holders and nearly 46% of supply held by small wallets, the concentrated distribution may amplify market dynamics. Analysts note that these strategic interventions create bullish momentum for PUMP amid broader altcoin volatility.