PUMP (Pump.fun) rose 17.43% in the last 24 hours

Gate News Bot message, on August 29, according to CoinMarketCap, as of the time of writing, PUMP (Pump.fun) is currently priced at 0.00347992 USD, with a rise of 17.43% in the last 24 hours, reaching a high of 0.00354463 USD and a low of 0.00263238 USD. The 24-hour volume reached 243 million USD. The current market capitalization is approximately 1.232 billion USD, an increase of 183 million USD compared to yesterday.

PUMP recent important news:

1️⃣ Ongoing buyback plan reduces circulation The Pump.fun platform repurchased PUMP tokens worth $10,657,503 between August 20 and 26, accounting for 99.32% of the total revenue for that period. As of now, the cumulative repurchase amount has reached $58,134,191, equivalent to offsetting 4.261% of the circulating supply. This ongoing repurchase strategy helps to reduce market circulation, which may provide support for the PUMP price.

2️⃣ The platform dominates the Solana ecosystem Pump.fun has performed outstandingly on the Solana network, with last week's revenue accounting for about 90% of all Launchpad income. This data highlights Pump.fun's leading position in the Solana ecosystem and reflects the platform's strong appeal and user activity, which may become a potential driver for the rise in PUMP value.

3️⃣ Token Distribution Progress The Pump.fun team has started distributing locked tokens to some investors, which will be locked through Coinbase Custody and unlocked according to the previously announced schedule. This initiative indicates that the project is progressing as planned, helping to enhance investor confidence, while the locking mechanism may help to some extent to limit short-term selling pressure.

From a technical perspective, the PUMP price has shown a significant rebound in the past 24 hours, rising from a low of $0.00263238 to $0.00347992, an increase of 17.43%. This rebound may be related to the platform's ongoing buyback plan and its advantageous position in the Solana ecosystem. However, considering the high volatility of the cryptocurrency market, investors still need to closely monitor market trends and the project's subsequent developments.

This message is not intended as investment advice; investors should be aware of market volatility risks.

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SignUpWithinThreeDaysWithoutvip
· 08-29 06:42
Hold on tight, we're taking off To da moon 🛫
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