Pump.fun, the Solana memecoin launchpad, is under pressure as it scrambles to defend its native token, PUMP , from a steep decline. In a bid to stabilize its price, the team has been aggressively buying back tokens using SOL, with one of its largest buybacks to date looking to be recorded. On August 8, on-chain tracker Arkham reported that Pump.fun had sent 33,000 SOL to the wallet it uses for strategic buybacks. Worth $5.6 million in SOL, the launchpad is looking to buy approximately 1.77 billion PUMP at the current market price. PUMP IS BUYING PUMP PumpFun just sent another $5.6M SOL to a new address where they are buying back PUMP. So far they have bought back $6.68M PUMP on this address, and sent $5.72M of that to a Squads Vault. Address: 88uq8JNL6ANwmow1og7VQD4hte73Jpw8qsUP77BtF6iE pic.twitter.com/i2fS7YJddt — Arkham (@arkham) August 8, 2025 In total, that wallet has already purchased $6.68 million worth of PUMP, with $5.72 million of it already moved into a Squads Vault. PUMP Faces Pressure as Presale Holders Exit and Trading Volume Declines PUMP’s dip comes as pressure mounts from insiders and large holders offloading their tokens. Just hours before the recent buyback activity, another on-chain tool, Onchain Lens, flagged a single wallet dumping 1.11 billion PUMP tokens , worth around $3.79 million. The trade earned the seller a $362,000 profit, indicating the high-stakes exits occurring behind the scenes. Presale holders have also been rapidly reducing their exposure. Since July, nearly 60% of their tokens have been sold, flooding the market with supply. According to Lookonchain, one investor lab eled “Whale 6wB5A2” recently cut losses, offloading 130 million PUMP for $424,700 in USDC at a price of $0.0033. Whale 6wB5A2 cut losses 6 hours ago, selling 130M $PUMP for 424.7K $USDC at $0.0033. He previously spent 4M $USDC to buy 1B $PUMP in the public sale, and another 1.25M $USDC to buy 305.68M $PUMP at $0.0041. He still holds 1.17B $PUMP ($3.92M), with a ~$898K loss.… pic.twitter.com/TgR9REgadd — Lookonchain (@lookonchain) August 8, 2025 The whale previously spent $5.25 million across multiple purchases during the public sale and still holds around 1.17 billion PUMP, with unrealized losses of roughly $898,000. Pump.fun has tried to counter this by introducing transparency into its economic strategy. On August 4, it launched a real-time dashboard allowing users to track daily revenue and token purchases. introducing the pump fun revenue dashboard pump fun's daily revenues & $PUMP purchases can now be tracked in real time using https://t.co/fxyCTVUuBj in the past 6 days, pump fun purchased ~8,740 SOL worth of $PUMP , equating to 102% of total revenue over that time period. pic.twitter.com/xWxy85en7t — pump.fun (@pumpdotfun) August 4, 2025 Also, over the past few days, the platform has bought back roughly 8,740 SOL worth of PUMP, effectively using more than 100% of its revenue during that stretch to support the token’s price. At the time of writing, PUMP is trading at $0.003344, up 1.6% in the past 24 hours. It has seen a 25.9% price increase over the last seven days, outperforming the broader crypto market, which is up around 6.1%. Still, PUMP is down over 50% from its all-time high of $0.006812 and sits roughly 48% above its lowest recorded price of $0.002283. Source: Coingecko The 24-hour trading volume for the token has dropped to around $278 million, a 10.9% decline from the previous day. That dip in activity, combined with consistent sell pressure, has raised questions about whether the current buyback strategy can hold. For now, Pump.fun appears determined to absorb the sell-off and reassert control. Pump.fun Launches Glass Full Foundation Amid Resurgence in Solana Meme Coin Activity Pump.fun recently introduced the Glass Full Foundation (GFF), a new initiative focused on providing liquidity support for promising projects within its ecosystem. The foundation is expected to help stabilize the platform’s rapidly evolving memecoin sector, with selected tokens receiving ongoing capital injections to support growth and market activity. The launch of GFF follows an uptick in platform momentum. After trailing behind rival letsBONK.fun for several weeks, Pump.fun regained its lead in the Solana memecoin space on August 6, outperforming across multiple metrics, including trading volume, revenue, token graduations, and new mints. @pumpdotfun has reclaimed the lead from @letsBONKfun in Solana meme coin activity, topping daily trading volume, revenue, and token launches. #Solana #MemeCoins https://t.co/2T5wbQjZyV — Cryptonews.com (@cryptonews) August 6, 2025 Pump.fun recorded $144.5 million in token graduation volume that day, more than four times that of letsBONK.fun. Revenue also surged, with the platform pulling in $1.38 million, well ahead of its competitor’s $282,000. Pump.fun leads in 24-hour trading volume, generating nearly $144 million, compared to $19 million on letsBONK.fun. It also outpaces in token graduations and user engagement. According to Pump.fun, the foundation has already started deploying capital, with early recipients receiving liquidity support. The goal, the team says, is to foster the most committed communities and help expand the Solana ecosystem’s reach. Source: DefiLlama Despite its resurgence, the broader meme coin market is showing signs of fatigue, as shown in Pump.fun’s monthly revenue. The revenue dropped to a 2025 low in July, generating just $24.96 million, an 80% decline from its January peak. The post Pump.fun Buys Back $6.68M PUMP in SOL Blitz – Bid for Solana Meme Leadership? appeared first on Cryptonews .
