The native tokens for Solana-based Meme Coin Platform Pump.fun surged nearly 20% on July 16, reaching a new all-time high following the launch of a massive buyback campaign.
After reaching a high of $0.00681, the pump is trading at around $0.0063 at the time of writing, up about 14% over the 24-hour time frame. The rally was driven by news that Pump.Fun had started purchasing tokens using fee revenue generated on the platform.
According to on-chain data shared by LookonChain, the platform was allocated 187,770 Solana (SOL), worth around $30.6 million from fee reserves, to fund buybacks. So far, 118,351 SOL, which is around $19.26 million, has been spent acquiring around 29.9 billion pump tokens with an average price of $0.0064.
Pumpfun (@pumpdotfun) has repurchased the $Pump with a fee revenue of $187,770 ($30.6 million).
So far, the buyback wallet spent $118,351 ($19.26M) and bought the 2.99b $ pump at the average price of 0.0064.https://t.co/p1uqlkfdx6 pic.twitter.com/3chmjzkpsj
– lookonchain (@lookonchain) July 16, 2025
The buyback appears to be part of Pump.Fun’s efforts to stabilize the token after a volatile start. Following public sales, which raised $600 million in just 12 minutes by selling 15% of the token supply, the pump debuted on major exchanges with a fully diluted valuation of $4 billion. However, the tokens fell by more than 40% due to significant profits from early investors.
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Market sentiment is cautiously optimistic, as a result of a buyback that rekindled interest in tokens despite its rocky debut. While some analysts continue to question the sustainability of mobility, others interpret it as a show of confidence from the Pump.fun team.
Critics point to the limited utility of tokens. Because pumps do not offer governance, staking, or revenue sharing mechanisms. They argue that buybacks may only help support prices without addressing structural flaws.
As competition intensifies in the MemeCoin LaunchPad space, buyback launches will occur. Competitor Letsbonk recently overtook Pump.Fun in terms of daily LaunchPad volume and token graduation rates. Pump.Fun’s own metrics are also declining, with Defillama data showing the amount of platforms falling from $11.6 billion in January to $3.65 billion in June.
To regain that advantage, Pump.Fun acquired the analytics platform Kolscan and implemented a time-weighted average price buyback strategy funded by fee wallets. For now, the market appears to be actively responding to these efforts.
read more: Binance Debuts Pump.fun-inspired Bonding Curve Model with Token Startup Function