What to Know
- Pump.fun has repurchased over $205M worth of PUMP, removing 13.86% of the supply in five months, surpassing Raydium.
- The new mobile app boosts creator activity but does not add utility to PUMP, triggering a “sell-the-news” reaction.
- PUMP still remains in a downtrend with weak revenue and key technical levels breaking.
Pump.fun has recorded more than $205 million in total buybacks of PUMP. This makes Pump.fun the number one Solana protocol by cumulative buybacks, even surpassing Raydium. But despite this major achievement and the launch of a brand-new mobile app, the price of the PUMP token continues to fall sharply.
According to data, Pump.fun has now purchased 1,119,569 SOL worth of PUMP, equal to $205,501,627 in total value. The buyback program has already removed 13.86% of the circulating supply, a huge number for a token with a total supply of 1 trillion PUMP. All of this happened within just five months of the program’s launch.
The scale of the buyback shows strong revenue generation on the platform, especially as Pump.fun confirmed that starting October 24, 2025, all net revenue from bonding curves, PumpSwap, and Padre counts as “revenue.” However, Pump.fun also clearly stated that the PUMP token does not represent any right to those revenues, and the team may change how funds are used at any time.
Pump.fun Dapp Launch
Pump.fun launched its official mobile app yesterday, built for Seeker and available on the Solana dApp Store. The app lets anyone create memecoins for free, trade easily, and use Apple Pay for on-ramping
Usually, a new app launch increases excitement and demand. But this time, the market reacted with a classic “sell the news” response. Many users expected the app to introduce new utilities for the PUMP token, but it mainly improves the creator experience instead. As a result, the launch brought more activity to the platform, but not enough direct value to PUMP holders.
PUMP Price Action
According to CoinMarketCap, PUMP fell 8.6% in the last 24 hours, adding to its 15.3% drop over the last week and a 36.1% fall over the last 30 days. While part of this decline matches the wider crypto market’s weakness, the PUMP token is clearly facing challenges of its own.
In early December, daily memecoin creations on Pump.fun crossed 25,000 coins per day, the highest level since September. This shows strong community activity, but activity alone is not translating into more income.
Platform revenue is still 80% lower than early 2025 levels, suggesting that many new memecoins might be low-effort projects. Creators are launching tokens mostly for quick trades and trading fees are concentrating only in a few popular coins. So, even though the community is busy, the platform is not earning enough to match the fast-growing supply of new tokens.
PUMP also suffered a technical setback. It fell below Its 30-day moving average of $0.00308 and A key support level at $0.00298. Technical indicators show weakness. RSI is at 43.6, not oversold while MACD continues to remain negative. If the price breaks below $0.00248, the December 5 swing low, analysts warn that automated trading systems could push the price even lower. At the time of writing PUMP is trading at around $0.002774.
What Comes Next?
PUMP’s decline is happening during a period of fear across the crypto market, the Fear & Greed Index sits at 29, showing caution everywhere. But PUMP also faces internal challenges like growing supply, falling revenue, and a lack of clear utility for the token itself.
Experts say PUMP needs to see over $150 million in daily volume consistently before a real trend reversal becomes possible. For now, Pump.fun’s buybacks and new app show strong development progress, but the market wants more than milestones; it wants demand.
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