Pump.fun’s billion-dollar day points to a massive rebound driven by token buybacks, creator rewards, and meme coin market momentum.
Solana-based meme coin launchpad, Pump.fun smashed past $1 billion in daily revenue on September 15th
Data compiled by Jupiter revealed that Pump.fun generated $1.02 billion, while Hyperliquid settled with $3.23 million in daily revenue during the same period.
Pump.fun Resurgence
With this feat, Pump.fun surpassed Hyperliquid for two days running and achieved the second-highest 24-hour revenue among different projects, with only Tether ahead. Interestingly, it also surpassed Circle’s stablecoin platform, according to DeFiLlama.
The momentum coincided with a sharp rise in the broader meme coin market cap, which soared to $83 billion on Sunday as per CoinMarketCap. As of now, the total market capitalization for the meme coin sector stands at $76.6 billion.
The growth also comes alongside Pump.fun’s announcement, in which it revealed paying more than $4 million in Creator Rewards, with the majority going to first-time creators.
Launched in 2024, Pump.fun enables users to create meme coins, monetizing through fees tied to token launches, initial liquidity pools, and subsequent trading activity. Earlier this year, the platform reached its revenue pinnacle, generating over $6 million in a single day during January. However, that surge was short-lived, as daily earnings plunged by more than 96%, and even reached a low point of just $206K eight months later.
Signs of recovery began to appear later in August, and Pump.fun’s latest performance indicates renewed strength. This comeback appears closely tied to Pump.fun’s aggressive token buyback campaign for its native PUMP token. Since its introduction in July, the program has absorbed $98.2 million worth of PUMP, and has effectively removed over 6% of the circulating supply.
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PUMP Whale Books Profits
Whale investors also appear to be capitalizing on the renewed momentum surrounding Pump.fun.
Lookonchain observed that whale AA21BS has turned a $3.4 million loss into a $3.86 million profit amid PUMP’s uptick. The investor initially acquired over 1.2 billion tokens through a $6.16 million investment, then sold 1 billion PUMP for $8.25 million in recent days while retaining 208.83 million tokens worth $1.77 million.
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