Pump.fun's PUMP Buybacks Top $400M as Token Stays Flat

Pump.fun, the Solana-based memecoin launchpad that has generated more than $1.1 billion in lifetime fees, has repurchased over $400 million of its $PUMP token, with the running total crossing that mark in recent days, according to the company's onchain dashboard.

The tracker showed cumulative buybacks of about $400.9 million as of Monday afternoon, covering roughly 145.5 billion $PUMP acquired over 346 days. Pump.fun burns every repurchased token immediately under the policy it adopted in April, so the running buyback total now closely tracks the amount of $PUMP permanently removed from circulation.

The milestone tests the central premise of Pump.fun's tokenomics: that steady, revenue-funded buying and burning will tie $PUMP's value to the platform's cash flows. So far, the supply cuts have not lifted the price.

$PUMP edged up about 1% in the 24 hours through Monday, matching Bitcoin's gain, according to CoinGecko. The token has fallen about 16% over the past 30 days and trades roughly 83% below its record of about $0.0088, set in September.

Revenue Directed at Repurchases

Pump.fun started buying back $PUMP in July 2025 and initially directed all revenue toward repurchases. In late April, the company burned about $370 million of accumulated tokens, roughly 36% of the circulating supply at the time, and switched to a programmatic model.

The platform now routes 50% of net revenue from its bonding curve, PumpSwap and Terminal products into an irreversible smart contract that buys $PUMP on the open market and burns it. The Defiant reported the change at the time. The remaining revenue funds operations, hiring and acquisitions.

The platform has produced about $1.13 billion in fees and $1.05 billion in revenue since launching in January 2024, according to DefiLlama. Fee generation has cooled alongside the broader memecoin market, totaling about $23.5 million over the past 30 days.