Pump.fun Implements $62 Million Buyback to Stabilize Pump Token Price

Pump.fun has launched a significant buyback program of its PUMP token, committing $62 million in revenue towards stabilizing the price and regaining market share. This strategic move utilizes generated platform funds for the buyback operation, taking place on the Solana blockchain. 54% price increase following this action demonstrates a direct impact on the ecosystem. The initiative highlights the potential challenges in memecoin sustainability, especially considering its unique approach to tokenomics.