Pumpfun restarts Token buyback! PUMP rises 15% in 24 hours, with a total of over 3.8 billion coins destroyed.

The utility token PUMP of the memecoin launch platform Pumpfun is leading the market today, soaring 15% within 24 hours. The surge is driven by the platform's restart of the PUMP token buyback plan, which has cumulatively used $21.5 million worth of SOL to repurchase and destroy 3.828 billion PUMP, significantly reducing the circulating supply. On-chain data shows spot net inflow surged by 135%, with the long-short power ratio (BoP) reaching 0.77, indicating buyers dominate the market. If it breaks through the key resistance at $0.0032, the next target is $0.0040.

[Buyback Restart Stimulates PUMP Price Surge] The practical token PUMP of the Memecoin creation platform Pumpfun has today become the top in the market rise list, with a value surging 15% in the past 24 hours. This significant rise is directly driven by the platform's relaunch of the PUMP token buyback program, which has successfully reignited investor interest and may drive further increases in subsequent trading periods.

[A total of 3.8 billion coins have been destroyed, reducing circulating supply] On July 30, on the X platform, the on-chain analyst EmberCNB disclosed a key development: Pumpfun transferred 12,000 SOL (approximately 216,000 USD) to the designated PUMP repurchase address on July 29.

• Continuous Buyback Action: This is the latest initiative in the broader buyback program launched by the platform on July 16. According to analysts tracking the situation, Pumpfun initially transferred 187,770 SOL (approximately 30.53 million USD) from its fee wallet to serve as the buyback fund.
• Buyback and Burn Results: As of now, the platform has cumulatively used 129,100 SOL (approximately 21.5 million USD), repurchasing and burning up to 3.828 billion PUMP Tokens from the open market.
• Core Mechanism and Impact: By continuously utilizing the platform's generated fee income to repurchase and burn tokens, Pumpfun effectively reduces the circulating supply of PUMP, creating ongoing upward pressure on the token price. This transparent and sustainable model has successfully restored trader confidence in the past day, driving market purchases to push prices higher.

[On-chain data validation shows bullish momentum] Multiple on-chain indicators confirm the bullish momentum of the PUMP:

1. Spot net inflow surges: According to Coinglass data, the net inflow in the PUMP spot market soared by 135% today. This clearly shows that after the buyback action is completed, funds are rotating into this Token.

   • Interpretation: The increase in net inflow of Spot indicates that the amount of funds entering the market is greater than the outflow, which is a bullish signal of increased investor interest. This means a demand recovery for PUMP. Traders are positioning themselves to capture the potential rise brought about by the platform's latest injection of $2.16 million in repurchase funds.

     

     (PUMP Spot Net Flow | Source: Coinglass)

2. **Bull-Bear Power Ratio ( BoP ) Strong: ** As of the time of writing, the Balance of Power (BoP) indicator for PUMP is in the strong positive range at 0.77.

   • Interpretation of Significance: The BoP indicator measures the strength of buyers relative to sellers in the market, used to identify momentum shifts. A positive value indicates that buyers dominate the market and suppress sellers, which is expected to drive prices further up.

     

     (PUMP BoP | Source: TradingView)

[Technical Analysis: Key Resistance and Potential Targets]

• Current Price: At the time of publication, the PUMP trading price is $0.0031.
• Key Resistance: The price is currently testing and temporarily facing resistance at the key technical level of $0.0032.
• Bullish Scenario: If the capital inflow continues to increase and successfully breaks through the $0.0032 resistance (Breakout), this level may convert into a new support level and drive the PUMP to target $0.0040.
• Bearish Risks: If profit-taking intensifies and demand wanes, PUMP may retrace recent rises and drop to the $0.0022 support level.

Conclusion: Pumpfun's buyback and burn mechanism supported by platform revenue has injected strong value support and deflationary momentum into its utility token PUMP. The substantial action of burning 3.8 billion tokens, combined with the strong on-chain buyer demand and net capital inflow, has collectively driven this significant rise. Whether it can effectively break through and stabilize at the $0.0032 level will be crucial in testing the sustainability of this upward trend. This case also highlights the unique appeal of Memecoin platform tokens with a clear tokenomics and proactive supply management in a volatile market. Investors need to closely monitor the sustainability of the buyback plan, the offense and defense at key resistance levels, and overall market sentiment changes.