Pump.fun (PUMP) is facing two forces at once. On one side, insiders have reportedly sold around $25 million worth of tokens, which has added steady pressure to the price.
On the other side, whales have stepped in after a recent court ruling and increased their positions.
However, the platform launched a $3 million investment arm called Pump Fund, showing it wants to move beyond pure memecoin hype and support utility projects. But the biggest headline is the scale of the buybacks.
- $301 Million Deployed – Nearly 100% of Daily Revenue Used
- Is This Real Demand for PUMP or Just Sell Pressure Absorption?
- What Needs to Happen Next For Pump.Fun?
- PUMP Price Targets to Watch
$301 Million Deployed – Nearly 100% of Daily Revenue Used
Tanaka highlighted that Pump.fun (PUMP) has used almost all of its daily revenue to buy back $PUMP. In total, about 1,965,696 SOL has been spent on buybacks. That equals roughly $301 million deployed into the token.
Around 90.4 billion PUMP tokens have been purchased. That offsets about 9% of total supply and more than 25% of circulating supply.
On February 22 alone, the platform generated 14,714 SOL in revenue and spent 14,650 SOL on buybacks. That is nearly 100% of daily revenue going directly back into the token.
These numbers are large. But large buybacks do not automatically mean a higher price.
Is This Real Demand for PUMP or Just Sell Pressure Absorption?
The key issue Tanaka raised is whether this activity creates new demand or simply absorbs constant selling.
In the current market, even a few hundred million dollars in buybacks does not guarantee a breakout. If insiders or early holders are still selling, buybacks may only slow the drop instead of starting a rally.
Buybacks work best when revenue keeps growing and users stay active. If the platform continues generating strong daily income, it can keep supporting the token. If revenue slows, the buyback engine weakens.
Right now, the PUMP price is trading around $0.001906. Despite the heavy buyback activity, the price has not exploded higher. That tells you supply in the market is still significant.
_****Kaspa’s May 5 Hardfork Could Be 2026’s Biggest Under-the-Radar Catalyst**
What Needs to Happen Next For Pump.Fun?
For a trend shift to actually happen, three things need to happen in relation to buybacks:
Revenue needs to be steady or increasing, users need to be engaged with the platform, and selling pressure needs to decrease.
If this is the case, buybacks can help to decrease supply and push prices higher.
PUMP Price Targets to Watch
If buybacks continue at this pace and platform revenue holds up, the first level to watch is $0.0022. Above that, $0.0026 becomes the next major resistance zone. A stronger push may see $0.0030 back in play.
On the flip side, if the revenue declines or the insider selling persists, the PUMP price may test $0.0017, with further support at $0.0015.
For now, the buyback engine is active. The real question is how long it can keep running, and whether it is building real demand or simply holding the line.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Michael Saylor: Bitcoin may have already hit bottom, but quantum risks have been exaggerated
Strategy Executive Chairman Michael Saylor believes Bitcoin hit its bottom around $60,000 this February, because all forced sellers in the market have already exited. He said that the catalyst for the next bull market will be a bitcoin-based banking credit system, while he believes the threat from quantum computing is being exaggerated, and he pointed out that the technical community has enough time to deal with this threat.
MarketWhisper1h ago
Glassnode: Is the Bitcoin rebound just a dead cat bounce? Where is the key pressure level?
Glassnode reports that although the Bitcoin price rebounded to $72k due to a U.S.-Iran ceasefire, the market structure is still in a bear market. In the short term, the downside may be limited, but the $78k level faces pressure overhead. ETF capital inflows have ticked up slightly, but they have not yet fully returned; trading activity in derivatives remains sluggish, indicating insufficient market confidence. Going forward, we need to monitor changes in the futures trading and options markets.
ChainNewsAbmedia2h ago
Why is Bitcoin down today? The Iran–Israel ceasefire is on the verge of collapse, and the Strait of Hormuz shuts down again
Bitcoin has recently been trading below $72,000 and faces risks from the failure of the U.S.-Iran ceasefire talks and the Strait of Hormuz closing again, which has weighed on market sentiment. At the same time, Federal Reserve meeting minutes show that the likelihood of further rate hikes is rising, further affecting the valuation of risk assets. Bitcoin’s key resistance level is $75,000 and its support level is $68,000; the market is currently waiting for a clear direction confirmation signal.
MarketWhisper2h ago
The Crypto Fear and Greed Index drops to 14, and the market remains in extreme fear
Gate News message, April 9, according to Alternative data, today’s Crypto Fear and Greed Index is 14 (yesterday was 17), and the market remains in extreme fear. The index ranges from 0-100 and provides a composite assessment of six indicators: volatility (25%), market trading volume (25%), social media buzz (15%), market surveys (15%), Bitcoin’s share of the entire market (10%), and Google trending topic analysis (10%).
GateNews3h ago
Optimism over the Iran-U.S. ceasefire helped drive a broad rebound in U.S. stocks, and Bitcoin rose to a three-week high.
The United States and Iran reached a two-week ceasefire agreement, and global financial markets turned optimistic, with the S&P 500 rising 2.51%. U.S. crude oil prices fell to below $95 per barrel, easing concerns about an energy crisis. Bitcoin at one point rose 5% to $72,841, hitting a three-week high. Expectations that the Federal Reserve will cut interest rates have also increased.
ChainNewsAbmedia3h ago
Bitcoin ETF attracts $470 million, setting a 6-week high! Analyst: “A breakout rally is brewing.”
U.S. spot Bitcoin ETF inflows hit a new six-week high on Monday, signaling a rebound in institutional investor confidence. Total net inflows of $471.3 million came mainly from institutions such as BlackRock and Fidelity. Even though market sentiment is gradually improving, broader macroeconomic and geopolitical risks could still affect Bitcoin’s upward momentum. Analysts said that sustained structural buying can support Bitcoin, but future price action will still need to be monitored for changes in external factors.
区块客3h ago
