Pump.fun Buys Back $6.68M PUMP in SOL Blitz – Bid for Solana Meme Leadership?

Key Points

1. Pump.fun bought back $6.68 million worth of PUMP tokens in SOL, with $5.72 million moved to a Squads Vault, to defend against price declines.

2. Large holders and presale investors have been selling PUMP, with one wallet dumping 1.11 billion tokens for a $362,000 profit, and another selling 130 million PUMP at a loss.

3. Pump.fun's daily revenue has been used to buy back PUMP, with 8,740 SOL (102% of revenue) spent on buybacks over six days.

4. PUMP's price is up 1.6% in 24 hours and 25.9% over seven days, but remains down over 50% from its all-time high, with trading volume declining by 10.9%.

5. Pump.fun launched the Glass Full Foundation to provide liquidity support for projects, following a resurgence in platform activity where it outperformed competitor letsBONK.fun in trading volume and revenue.