Pump.fun has spent over $62.6 million to buy back native token PUMP

According to Huobi HTX, Pump.fun has spent more than $62.6 million to buy back its native token PUMP, according to Dune Analytics. The repo has absorbed more than 16.5 billion tokens, with an average repo price of $0.003785, and the platform aims to stabilize price trends and reduce selling pressure. This repurchase strategy uses the revenue generated by the platform, mainly charges fees collected from users’ issuance of coins (especially meme coins) to conduct daily token repurchase. Dune Analytics data shows that the daily repurchase amount has remained between $1.3 million and $2.3 million in the past week. According to DefiLlama, Pump.fun has generated more than $775 million in revenue since the platform was launched. It is worth noting that the platform experienced a significant decline in revenue between July 28 and August 3. During this period, Pump.fun's weekly revenue was only $1.72 million, the lowest since March 2024. Meanwhile, the buyback plan seems to work. PUMP has risen by more than 12% in the past month and has risen by about 9% in the past week. The token is currently trading at $0.003522, up 54% from its August low of $0.002282.