Pump.fun has spent over $62.6 million to repurchase its native token PUMP
according to Dune Analytics data, Pump.fun has spent over $62.6 million to buy back its native token PUMP. The buyback has absorbed over 16.5 billion tokens, with an average buyback price of $0.003785, aiming to stabilize the price trend and reduce selling pressure.
This buyback strategy uses the platform's generated revenue, mainly from fees charged for user coin issuance (especially meme coins), to buy back tokens daily. Dune Analytics data shows that the daily buyback amount over the past week has consistently remained between $1.3 million and $2.3 million.
According to DefiLlama data, since its launch, Pump.fun has generated over $775 million in revenue. It is worth noting that the platform experienced a significant decrease in revenue between July 28 and August 3. During this period, Pump.fun's weekly revenue was only $1.72 million, the lowest since March 2024.
Meanwhile, the buyback plan seems to be working. PUMP has risen by over 12% in the past month and by about 9% in the past week. The current trading price of the token is $0.003522, up 54% from its low of $0.002282 in August.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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