Lower than per week after its eagerly awaited ICO, Pump.enjoyable’s native token, PUMP, has skilled a notable value setback.
Key Takeaways:
- Pump.enjoyable’s PUMP token has dropped over 22% since its ICO, buying and selling close to its preliminary value.
- LetsBONK has overtaken Pump.enjoyable in meme coin creation quantity amid a slowdown in Solana’s total token minting.
- Pump.enjoyable plans token utility upgrades, together with buybacks and a “group takeover” function to spice up engagement.
As soon as peaking above $0.006 shortly after its debut, the token has slipped greater than 22% in worth, buying and selling close to $0.004, successfully returning to its launch value, in line with information from CoinMarketCap.
The preliminary coin providing raised a powerful $600 million inside simply 12 minutes, promoting 15% of the overall 1 trillion PUMP provide to the general public.
Moreover, 18% of the tokens have been offered privately, valuing the absolutely diluted market cap at $4 billion.
Meme Coin Pioneer Pump.enjoyable Loses Floor as Competitors Heats Up
Regardless of the explosive launch, the meme coin platform, credited with revitalizing Solana’s meme token scene earlier this 12 months, has seen its dominance wane amid rising competitors.
Onchain information reveals that LetsBONK, a competing platform centered on the BONK meme coin ecosystem, has overtaken Pump.enjoyable in meme coin creation volumes beginning about two weeks in the past.
The shift comes as total day by day token minting exercise on Solana has declined.
Whereas LetsBONK’s long-term prospects stay unsure, its speedy rise marks a big achievement.
Not like earlier challengers, LetsBONK managed to seize a large slice of the market share, with the BONK token itself rising 64% because the platform’s April debut.
Forward of its ICO, Pump.enjoyable’s buying and selling volumes had been steadily growing.
The group behind the venture signaled plans to introduce new utility options for the PUMP token, together with price rebates, token buybacks, and different incentives designed to spice up demand.
On Tuesday, Pump.enjoyable executed a big buyback, transferring almost 188,000 SOL, value round $31.3 million, to a devoted pockets.
The repurchase of PUMP tokens at a median value of $0.0064 pushed the token’s value up by 17% to roughly $0.0067.
The platform has pledged to allocate 25% of its protocol revenues to ongoing buybacks. Nevertheless, price revenues for Friday totaled about $968,000, beneath the protocol’s common.
In a latest replace, co-founder Alon Cohen unveiled a “group takeover” function, permitting customers to grab management of “deserted” initiatives.
The mechanism goals to channel creator charges towards essentially the most lively group members who contribute via raids, content material creation, and growth.
CTOs are the lifeblood of pump enjoyable – they fashioned many of the success instances on the platform and can proceed to dominate
however one main ache level is that these CTOs don’t have any funding. particularly when the dev has deserted the group and is continuous to earn charges, that… https://t.co/40OnPQEHHX— alon (@a1lon9) July 18, 2025
Pump.enjoyable Proclaims First Acquisition
Moreover, Pump.enjoyable introduced its first acquisition final week.
The meme coin launchpad has bought Kolscan, a Solana-based pockets tracker that displays prime on-chain merchants.
The mixing will merge Kolscan’s analytics with Pump.enjoyable’s social buying and selling options, enhancing transparency, pockets monitoring, and copy-trading capabilities.
Co-founder Alon Cohen emphasised that buying and selling is a “social sport,” highlighting the significance of group and shared insights in driving success inside the ecosystem.
As a part of the deal, all Kolscan providers might be made free to customers.
Pump.enjoyable has already attracted tens of 1000’s of customers and intends to construct a scalable crypto social media platform, leveraging Kolscan’s instruments to develop its group and affect.
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