PUMP price sees limited gains despite $400M buyback

The buyback program for the Solana-based meme coin launchpad Pump.fun (PUMP) has surpassed $400 million in value, yet this has had a limited effect on the token's price, The Defiant reported. To date, the platform has bought back approximately 145.5 billion PUMP, worth around $409 million, with all purchased tokens being immediately burned. The Defiant explained that although Pump.fun's model is designed to increase token value by using platform revenue for buybacks and burns, the resulting supply reduction has not yet directly translated into a price increase.