Pump.fun's PUMP Token Surges 84% in Week Amid Consistent Buybacks
Pump.fun's PUMP token has seen an impressive rally, climbing 84% over the past week and reaching $0.005136 despite a broader crypto market drop of 1.9%. The main driver behind this move is Pump.fun's token buyback program, which uses trading revenue to purchase tokens directly from the market.
For three consecutive days, the platform has bought back more than $1 million worth of PUMP tokens per day, including a recent 24-hour window where it purchased $1.01 million in tokens. This consistent buying pressure is tied directly to platform revenue and not just market sentiment.
The token's 24-hour trading volume climbed 43.68% to over $781 million, indicating real participation behind the rally rather than thin-market moves.
The recovery of PUMP has created a series of higher highs and higher lows since late July, with the sharpest acceleration coming after August 19. Crypto analyst CryptoKaleo noted that the PUMP chart 'looks like it's speed running its way back to all-time highs.'