Pump.fun $350 Million PUMP Buybacks Fail To Lift Token Price
Despite $350 million in buybacks, Pump.fun's PUMP token price remains significantly below its peak, sparking community criticism.Summary
Pump.fun (PUMP) has spent $350 million on buybacks since July 2025, yet the token's price is 81% below its all-time high and recently reached record lows. Critics argue the tokenomics are designed for extraction rather than growth, with insiders potentially selling into buybacks. Approximately 32.9% of the circulating supply has been removed, but the price remains well below its ICO price and peak. A significant token unlock is scheduled for July 12, 2026, which could further pressure the price, as 41% of the locked supply will become tradable. Despite cumulative protocol revenue exceeding $1 billion, the token has not seen sustained appreciation, leading to concerns about whether the buybacks are genuinely returning value or serving as an exit ramp for insiders.
(Source：BeInCrypto)