The post Pump.fun Raises $1.3B, Buys Back PUMP Worth $2.3M appeared first on Coinpedia Fintech News
Pump.fun, the Solana-based meme coin platform, is back in the spotlight with a hefty $2.3 million buyback of its native token, PUMP, executed in just 20 minutes. The move caused a 13–15% price surge, pushing the token to $0.00656 and reigniting investor interest. But beneath the buzz, concerns over its long-term value and utility are surfacing.
This buyback comes shortly after Pump.fun’s headline-grabbing token sale, which raised $1.32 billion by selling 33% of its 1 trillion token supply at $0.004 per token. That sale pegged PUMP’s fully-diluted valuation (FDV) at a whopping $5.97 billion. The project used fees collected from the platform to fund the buyback, which acquired over 3 billion tokens, according to on-chain data from EmberCN.
BREAKING: @pumpdotfun has reportedly initiated a $PUMP token buyback, purchasing approximately $2.3M in the past 20 minutes. The
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