$PUMP, the native token of the Solana-based token launchpad pump.fun, has returned to its initial coin offering (ICO) price after a period of steep decline. As of the time of writing, $PUMP is trading at $0.004002, representing a 16.5% increase over the past week, according to CoinGecko. This recovery comes after the token dropped as low as $0.002283, significantly below its ICO price of $0.004.
Launched on July 15, $PUMP attracted substantial attention, raising $600 million in just 12 minutes during its ICO and reaching an all-time high of $0.006812. Combined with a $720 million private funding round, the project secured $1.32 billion in total capital. Despite this strong start, the token had been on a downward trajectory until recent market shifts.
Aggressive Buybacks Fuel Market Optimism
The price rebound coincided with pump.fun’s announcement of substantial token buybacks. Between August 5 and August 11, the platform repurchased $8.42 million worth of $PUMP, equivalent to 97.29% of its total weekly revenue. The project has now bought back $33.14 million worth of tokens in total, offsetting 0.729% of the total supply.
Recent buyback activity places $PUMP at the top of the list for the past 30 days, with $43.3 million in repurchases, outpacing other notable tokens such as $BONK at $18.9 million, $JUP at $7.5 million, and $RAY at $5.3 million.
Never-ending Solana Launchpad Wars
The turnaround in $PUMP’s price also reflects Pump.fun’s resurgence in the Solana launchpad market. In the last 24 hours, the platform captured 80% of total volume, while competitor letsBONK.fun fell to just 4%. This marks a sharp reversal from two weeks earlier, when letsBONK.fun held 80% of market share.
As of August 13, Pump.fun commands 91.8% of the token creator market share, with letsBONK.fun at 4.3% and Jup Studio at 2.0%.
The platform also leads in 24-hour revenue at $2.01 million, surpassing even blockchains like Ethereum with $1.01 million, and continues to outperform other memecoin launchpads across key metrics including volume, token launches, active addresses, and token graduates.
On August 8, pump.fun launched the Glass Full Foundation to provide liquidity to selected ecosystem tokens.
While the team has not disclosed specific allocation details, onchain data shows five wallets linked to the initiative have deployed $1.69 million into Pump ecosystem tokens, with $400,000 remaining for future use. These positions currently reflect an unrealized profit of approximately $64,000.
Sentiment Shift and Fading Airdrop Complaints
Community sentiment appears to be shifting in favor of $PUMP, with some users noting how quickly the Crypto Twitter (CT) crowd has moved past earlier frustrations. Deeze, host of We Do A Little podcast and a popular figure in crypto circles, in a satirical nod to how quickly sentiment shifted after recent positive price action, remarked that the token is "quietly becoming a good token again" after reclaiming its ICO price.
Some observers note that complaints surrounding the absence of a long-speculated airdrop have started to fade from timelines. For instance, one X user highlighted the irony, saying, "I love how quickly CT forgot about the $Pump airdrop.”
Similarly, another X user quipped sarcastically that "Every Kol loves $pump again after they hated it because alon didnt do an airdrop."
Previously, frustration over the lack of an airdrop was widespread, with accounts like @PumpAirdrop humorously tracking the streak of days without one. The account's latest post as of August 13, 2025, stands at "Day 159: No," with the pump.fun founder, alon, even liking one of its earlier posts from August 8, prompting replies like "this proves he actually reads the airdrop posts."
Speculation continues over token unlocks and future distributions, including the August 12 release of 2.08 billion $PUMP tokens for “community and ecosystem initiatives,” according to DropsTab data. This event fueled expectations of an airdrop, even though it is more likely to be related to their potential upcoming incentives program. Nevertheless, the market has shifted its focus to $PUMP’s strong revenue growth and expanding market share.
What’s Next for $PUMP?
The $PUMP token’s recovery to ICO levels marks a significant moment for the project, given its volatile trading history since launch. The combination of aggressive buybacks, market share dominance, and new liquidity initiatives has contributed to the recent upward momentum.
Whether these factors can sustain long-term growth remains uncertain, with questions centering on whether the platform can maintain its market share and if the broader meme economy will continue to expand. Historical trends since Pump.fun’s launch a year and a half ago show that the meme economy has rebounded strongly under a variety of market conditions, but its future trajectory still carries uncertainty. For now, however, pump.fun has reestablished its position as a dominant force in the Solana launchpad ecosystem while gradually restoring community confidence.
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