Pump, a newly launched token from the well-known Meme Coin LaunchPad Pump.Fun, has surged more than 20% in the last 10 hours amid reports of team-driven buybacks.
The rally temporarily pushed Pump’s market capitalization to $2.4 billion, overtaking Bonk. However, at the time of writing, Bonk has regained the lead, according to Coingecko data.
On-chain data Tracked on Lookonchain shows that Pump.Fun has recently forwarded over $30 million to a designated buyback address. Of that, the team sold 118,351 SOLs and bought about 3 billion pumps for an average price of $0.0064.
puppfun (@pumpdotfun) 187,770 prepared $sol ($30.6 million) earns repurchase fee revenue $Pump.
So far, the repurchase wallet has spent 118,351 $sol ($19.26m) to buy 2.99b $Pump Average price $0.0064.https://t.co/p1uqlkfdx6 pic.twitter.com/3chmjzkpsj
– lookonchain (@lookonchain) July 16, 2025
After the ICO on the weekend We raised $500 million, Pump.Fun launched pump token In a major crypto exchange on Monday.
Currently, various exchanges offer spot trading and deposits for pumps, such as Coinbase, Bibit, MEXC, Bitget, Gate, Cucoin, High Lipids, and more, the latter offering up to five times the leverage on permanent contracts.