Pump resists the crypto fall and rises 12% thanks to the repurchases of Pump.fun

By Hannah Pérez

The Pump.fun protocol to launch Memecoins on Solana, has invested more than USD $ 60 million in the repurchases of its native token, which has helped boost its price even in full general correction in the market.

***

• The Pump.Fun protocol has invested more than USD $ 60 million in the repurchase of its native token
• The strategy has helped boost the price of Pump in full correction of the crypto market
• Pump has risen more than 12% in the last week while BTC and ETH falls more than 6%

---

In the midst of a cryptographic market in decline, the token pump of Pump.fun He has achieved a 12% rebound in the last week, promoted by an aggressive tokens repurchase strategy by the platform.

According to a panel data Dune Analytics, Pump.fun He has invested more than 62.6 million dollars in repurchase his native token, absorbing more than 16.5 billion tokens at an average cost of 0.003785 dollars.

Pump.fun It is a platform based on Solarium that allows users to create and launch Memecoins In a simple way, generating income through the rates charged by each created token. Since its launch, it has raised more than 775 million dollars in income, according to Defillwhich has allowed you to finance daily repurchases of between 1.3 and 2.3 million dollars in the last week. This strategy seeks to reduce the circulating offer of Pump and stabilize its price compared to the sale pressure.

The platform attracted attention at the beginning of the year in the middle of the rise of Memecoins, motivated by celebrity tokens such as Trump and Melania. The volumes of Pump.fun They reached a maximum at that time.

Since its foundation, it has allowed the launch of 12.5 million tokens and 23 million wallets have interacted with the site, establishing a solid user base.

In the middle of red numbers, pump rises 12% in the week

According to CoingckoPump has increased 2.4% more in the last 24 hours and 41% above its August minimum of 0.002515 dollars. However, the Token is still 45% below its historical maximum of USD $ 0.006812 reached after its launch on July 12, after a successful initial offer of currencies (ICO).

Despite the bearish pressure in the cryptocurrency market, where Bitcoin and Ether They experience falls between 6% and 8% this week, according to the data cited, Pump.fun has strengthened its position as leader in the ecosystem of Memecoins of Solarium. Bitcoin It has a price below USD $ 109,000 and ETH is negotiated around USD $ 4,340 at the end of this edition.

Data from Jupiter They show that the platform recovered the first place in market share with 73% and a trading volume of 4.5 billion dollars in the last seven days, surpassing competitors such as Letsbonk.

The increase in adoption is also remarkable: the number of Pump holders has grown to more than 70,800, with 46% of the distribution in the hands of small investors, indicating a growing retail interest. However, the platform faces a collective claim of 5.5 billion dollars, accused of marketing practices they generate “artificial hype “ and compared to a “Casino without a license”.

With the ongoing repurchases and a historically favorable fall for digital assets, Pump could maintain their bullish impulse, as noted COINDESKalthough its success will depend on the consistency of the income of Pump.fun In a volatile market.

---

Article written with the help of AI, edited by Diariobitcoin

Edited image of Unspash, with Pump logo

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.