What to Know:
Pump.fun spent $12.19M on $PUMP buybacks, offsetting 5.3% of supply.
$2.5M paid to creators in 24h under new Project Ascend model.
Platform surpasses Hyperliquid in daily revenue, reviving Solana meme coins.
Pump.fun has made a big splash this week. Thanks to its new fee model and Project Ascend, the platform paid out $2.5 million to creators in just the first 24 hours. At the same time, Pump.fun used nearly all of its weekly revenue to buy back its own token, $PUMP, reducing the circulating supply by more than 5%.
Pump.fun’s Revenue Surge
Official updates say that the platform bought $12.19 million worth of $PUMP tokens from August 28 to September 3. That amount is 98.23% of the total money it made that week. These buybacks have already reduced the total supply of $PUMP by 5.363%, and the reduction has grown by 1.102% in just seven days.
This aggressive buyback plan has put Pump.fun in the spotlight, especially since it now makes more money every day than Hyperliquid. The move also shows how the team is using money to help both its token and the people who make it.
$2.5 Million to Creators in a Day
The launch of Project Ascend, a new model that would reward meme coin creators more fairly, was the big change. In the first 24 hours, Pump.fun paid out $2.5 million to creators, which is one of the biggest payouts to creators in the Solana ecosystem.
Pump.fun has brought back interest in Solana meme coins by giving back some of the money it makes to the people who launch tokens. The platform was already a popular place for experimental tokens, but now people are praising it for giving the people who made them real money.
Why the Buybacks Matter
Buybacks aren’t new in the world of crypto, but Pump.fun’s strategy is unusual because of how big it is. The platform is making sure that there is always demand for the token by using almost all of its money to buy $PUMP. This lowers the amount of supply in circulation, which can help the price stay high over time.
This is a strong sign for holders that Pump.fun wants $PUMP to grow over time, not just collect fees. It also makes Pump.fun different from a lot of other meme coin platforms that get a lot of bad press for their short-term, unsustainable models.
Price Outlook for $PUMP
As of this writing, the price of $PUMP is about $0.004264, which is an 10.9% rise in the last 24 hours and a 35.8% rise in the last week. After the creator payout surge, analysts say that the token is getting close to a key resistance level. The buzz around Project Ascend has given the market a boost, but traders are keeping a close eye on $PUMP to see if it can break higher or if people will take their profits and the price will go down.
The 5.3% drop in circulating supply is a good sign, but the token will need to keep getting demand from both creators and traders to reach new highs. It is likely that there will be short-term volatility, especially while rewards are being given out and buybacks are still going on.
Meme Coins on Solana
Pump.fun is responsible for 7% of meme coins on Solana. Solana became famous for fast, low-cost transactions that fueled meme projects. Projects like PENGU, TRUMP, BONK and many others took advantage of that.
Now, with Pump.fun increasing daily revenues by 10X and rewarding creators via dynamic fees, Solana’s meme coin culture looks alive again. If the model holds, it could spark a new wave of activity, not just from retail traders but also from developers who see real opportunity.
Conclusion
The most important thing for now is whether Pump.fun can keep up this pace. $PUMP might be able to break through resistance and go up if buybacks keep happening and creators stay motivated. On the other hand, if sales slow down or cash flow dries up, the hype could die down quickly.
Either way, Pump.fun has made clear that it intends to play a major role in Solana’s next chapter, and meme coins are once again at the center of attention.
Also Read:Ondo Finance’s Tokenization Push Can’t Lift ONDO Price
