PUMP Sees Significant Gains as Pump.fun Reclaims Its Status
PUMP has experienced double-digit growth as Pump.fun reestablishes itself as the premier Solana memecoin launchpad. The token’s recovery mirrors the renewed market momentum following several weeks of lagging behind competitors.
The PUMP (PUMP) token has increased by 13% within 24 hours, trading at $0.0037 as of this writing. Over the previous week, the token has risen approximately 37.7%, according to market datas. This increase coincides with Pump.fun’s resurgence in the Solana memecoin launchpad arena.
Pump.fun is currently the leader in daily token deployments, launching 18,446 new tokens on the platform just in the last 24 hours. In contrast, its nearest competitor, LetsBonk.fun, managed only 4,342 token launches during the same timeframe, based on data from Dune Analytics.
This rally is also fueled by Pump.fun’s enhanced token buyback strategy, which aims to alleviate sell pressure and promote price stability. To date, over $66.4 million has been utilized to repurchase more than 17.6 billion PUMP tokens, with average daily buybacks fluctuating between $1.3 million and $2.3 million over the past week, including a recent repurchase of $409,646 on September 1.
Pump.fun’s revival follows a weak performance in July, when another Solana-based launchpad, LetsBonk.fun, dominated the memecoin launchpad sector. LetsBonk captured the majority of market share that month, while Pump.fun struggled, leading to a revenue decrease that fell to a 10-month low of just $1.72 million in a single week.
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However, recent data indicates a turnaround. Pump.fun now commands 77.2% of the market share and reported $4.2 billion in trading volume over the past week. In contrast, LetsBonk’s share has declined to below 12%, with its volume dropping to $686 million.
Apart from price fluctuations and launchpad activities, Pump.fun is witnessing heightened retail engagement. The count of unique PUMP holders has surpassed 71,003, and wallets holding fewer than 1,000 PUMP tokens now represent 46.5% of the total distribution. This expanding base of retail holders signifies increasing community interest and broader token decentralization.
Data from DefiLlama reveals that Pump.fun has generated over $779 million in total revenue since its launch. Despite the temporary downturn in July, the platform’s revenue remains robust, buoyed by escalating activity and fees accrued from token launches.
Though the current momentum appears robust, it remains uncertain whether the buyback strategy will persist at its current levels and if Pump.fun can sustain its market share amid ongoing competition and memecoin volatility. Meanwhile, the project has reclaimed its title as the leading memecoin launchpad on Solana, and the ensuing weeks will determine if this is a true turnaround or merely a temporary rebound.
