Pump.fun’s PUMP Meets $0.005287 Resistance After 20% Rally
Cumulative buybacks and burns reached $467.12 million, removing 168.65 billion PUMP tokens as of Sept. 28.
Pump.fun’s PUMP token met resistance near $0.005287 after rising roughly 20% while recovering from the $0.0045 area, leaving the lower level as the next test after the retreat.
PUMP later traded at $0.004881. As of Sept. 28, cumulative buybacks and burns totaled $467.12 million, removing 168.65 billion PUMP, or 16.865% of total supply.
On Sept. 28, 228.3 million PUMP purchased for $1.21 million at an average price of $0.005292 was burned. Pump.fun’s program uses 50% of net revenue from its Bonding Curve, PumpSwap and Terminal to buy PUMP on the open market and permanently burn the tokens.
“Half of every dollar Pump.fun earns buys $PUMP on the open market, then burns it forever,” Pump.fun says.
Annualized revenue stood at $521.58 million based on a 90-day average, with daily revenue of about $1.43 million. Pump.fun announced April 28 that the buyback-and-burn mechanism would operate through an irreversible smart contract locked for one year.
Pump.fun also said PUMP does not give holders a claim on platform revenue, profits, dividends, distributions or other cash flows. Future purchases may be suspended, modified or discontinued, subject to purchases executed automatically through the existing smart-contract arrangement.
“$PUMP does not represent equity, a debt instrument, or any right to revenues, profits, dividends, distributions, or any other cash flow,” Pump.fun said.
The latest move follows earlier PUMP price coverage that identified resistance near $0.00464 during the token’s previous recovery. The immediate market test is whether PUMP can remain above $0.0045 after retreating from the resistance area.
