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PUMP token falls back to ICO price just days after launch
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LetsBONK overtakes Pump.fun in memecoin creation volume
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Pump.fun raised $600M but faces cooling interest
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Buybacks and new incentives have failed to hold price
Hype Fizzles as PUMP Price Retraces
Pump.fun’s PUMP token has seen a rapid reversal, erasing post-ICO gains and dropping back to its $0.004 debut price. After raising $600 million in a record-breaking token sale, PUMP briefly surged to $0.0067 on buyback news but has since slid over 22% in a single day, reflecting waning investor enthusiasm.
Rival Platform LetsBONK Gains Ground
Adding pressure, memecoin platform LetsBONK has overtaken Pump.fun in both activity and user engagement. Built around the BONK token ecosystem, LetsBONK has been leading daily memecoin generation volume and saw a 64% rally in its native token since April. Pump.fun’s market share, once dominant, is now under threat.
Utility Plans and Incentives Fail to Impress
Pump.fun has introduced a buyback scheme using 25% of protocol revenue, and last week spent over $31 million on PUMP repurchases. The platform also launched a “community takeover” feature to let users reclaim inactive projects. Still, daily protocol revenue has dipped below average, and interest appears to be shifting elsewhere.
