Pump.fun Invests $58.7 Million to Buy Back PUMP Tokens

Pump.fun, a leading memecoin launchpad on the Solana blockchain, has made a significant investment of $58.7 million in its native PUMP token through a buyback program. This move reduced the circulating supply of PUMP tokens by over 4.26%. The initiative is expected to boost investor confidence and influence the price of PUMP tokens. Pump.fun, which focuses on launching meme-based cryptocurrency projects, generated $10.7 million in weekly revenue to fund this buyback program. Details regarding the buyback can be found on the official Pump.fun website and their Telegram channels.