cryptobriefing.com
$PUMP, the newly launched token from prominent meme coin launchpad Pump.fun, has surged over 20% in the past 10 hours amid reports of a team-led buyback.
The rally briefly pushed $PUMP’s market capitalization to $2.4 billion, overtaking $BONK. However, as of the time of writing, $BONK has regained its lead, according to CoinGecko data.
$PUMP-vs-$BONK.png" data-ll-status="loaded" class="entered lazyloaded">
On-chain data tracked by Lookonchain shows that Pump.fun recently transferred 187,770 Solana ($SOL) worth over $30 million to a designated buyback address. Of that, the team sold 118,351 $SOL to purchase nearly 3 billion $PUMP at an average price of $0.0064.
Pumpfun(@pumpdotfun) prepared 187,770 $SOL($30.6M) in fee revenue to buy back $PUMP.
So far, the buyback wallet has spent 118,351 $SOL($19.26M) to buy 2.99B $PUMP at an average price of $0.0064.https://t.co/P1uqlkfdx6 pic.twitter.com/3chMjzkPsj
— Lookonchain (@lookonchain) July 16, 2025
After an ICO over the weekend that raised $500 million, Pump.fun launched its $PUMP token on major crypto exchanges on Monday.
A wide variety of exchanges now offer spot trading and deposits for $PUMP, including Coinbase, Bybit, MEXC, Bitget, Gate, KuCoin, and Hyperliquid, with the latter offering up to 5x leverage on perpetual contracts.