Pump Token Sees 120% Surge as Buybacks Cut Supply by 15.6%

PUMP has seen significant gains in recent weeks, increasing by about 120% over the past 40 days. The token's performance is linked to its revenue growth and ongoing token buyback program.

Data shows that the platform's weekly revenue recently exceeded $9 million, with a strong correlation between platform activity and token price since May. A portion of this revenue is allocated towards buying back tokens from the market, permanently reducing supply.

The cumulative effect of these buybacks has removed approximately 15.6% of total PUMP tokens from circulation, according to data shared by crypto commentator Jussy. The platform's dashboard reports a similar figure of around 15.37% of total supply burned.