The recent buyback of the PUMP token by Pump.fun has led to significant growth and changes in the fee structure for creators.
Record Buyback of PUMP Token
The PUMP token of Pump.fun has surged by 29% over the last week to reach $0.0044 following the biggest buyback in its history. The $12.19 million buyback between August 28 and September 3 accounted for 98.23% of the weekly revenue on the platform, demonstrating aggressive capital deployment into token scarcity. Since the program began, total purchases have reached about $72 million, and the circulating supply has decreased by 5.36%.
Project Ascend and New Dynamic Fees
Pump.fun has introduced Project Ascend, aimed at redesigning its fee structure. The new tiered system called Dynamic Fees V1 lowers initial fees on smaller launches and reduces overall costs for long-term creators. This model might allow creators to earn 10x more in the long run.
Outlook for PUMP Token
Technical analysis shows that PUMP has entered strong bullish territory following the buyback announcement. The price has broken above crucial resistance levels, and the RSI and MACD indicators suggest continued upward momentum. Holding a 77% market share of the Solana meme coin launchpad ecosystem, PUMP may reach resistance levels of $0.0048-$0.0050, although traders should be wary of RSI levels around 70.
The success of the buyback and the new fee structure position PUMP for sustained growth as the market adopts a positive sentiment.
