Pump.fun, the leading memecoin launchpad on Solana, is showing strong signs of recovery after a rough start. $PUMP is rallying strongly, hitting a new all-time high (ATH) of $0.00849. The surge comes as market activity around the project grows, pushing its market cap to $2.86 billion.
Buyback Program Restores Confidence
The team behind the project has rolled out a buyback program for its native $PUMP token, and so far it has worked in lifting the price.
When $PUMP launched, it was one of the most criticized ICOs. The token price dropped over 60%, raising concerns about its tokenomics. So far, the buyback program has pushed around $2 million worth of $PUMP into the market each day, creating steady demand.
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