Pump.fun (PUMP): A Sixth of All Tokens Burned, Price Up 50 Percent in a Week

The token of launchpad platform Pump.fun traded at 0.00526 euros on Thursday, October 1, at 01:04, according to CoinGecko. Seven days earlier it stood at 0.00352 euros. That is a gain of 49.6 percent in one week. With a market capitalization of around 2.45 billion euros, PUMP ranks 40th on CoinGecko.

Three developments sit behind the move, and all three can be documented. The buybacks funded from part of the platform's revenue have been running for more than a year and have by now destroyed a sixth of the maximum supply. Revenue picked up noticeably from September 26. And on September 25 the US Securities and Exchange Commission set out how it views buyback programs run by crypto projects. That statement is being read more broadly in many reports than its wording supports.

The PUMP price this week: from 0.0033 to 0.0053 euros

The weekly low was 0.00333 euros on Wednesday, September 24, at around 14:00, according to CoinGecko's hourly data. From there the price climbed almost without a setback. The weekly high coincided with the final data point, that is with the level in the early hours of Thursday. Over the preceding 24 hours PUMP barely moved at all, with a gain of 0.3 percent.

A look back helps put that in context. PUMP reached its previous all-time high of 0.00754 euros on September 14, 2025, roughly two months after the token went on sale. The current price therefore sits around 30 percent below it. A new record would still be a long way off, but the gap is as small as it has been in a long time.

Buybacks: between 371 million and more than 466 million dollars

Pump.fun uses part of its revenue to buy PUMP back on the open market. How large the total is by now depends on who is counting. Data provider DefiLlama lists revenue of 371 million dollars in total for the Pump group that has flowed to token holders, which means into buybacks. Reports dated September 29 cite cumulative buybacks of more than 466 million dollars. The gap of around 95 million dollars is likely down to definitions, such as which of the group's products and which periods are counted. Only the range is reliable.

The pace over the past week stands out. On September 22, around 842,000 dollars flowed to token holders according to DefiLlama; on September 26 it was 1.41 million dollars, the highest daily figure of the week. Through September 29 the figure stayed above one million dollars a day. Over seven days it added up to 7.3 million dollars, over 30 days to 23.6 million dollars.

A sixth of the PUMP supply has been burned

Pump.fun does not keep the tokens it buys back in a treasury; they are destroyed. How far that has gone can be calculated from CoinGecko's own supply figures: maximum supply is one trillion PUMP, while total supply stands at around 830.7 billion today. Around 169.3 billion tokens therefore no longer exist, which is 16.9 percent of the original stock.

Circulating supply, according to the same source, is around 465.2 billion PUMP. The difference from total supply, some 365 billion tokens or 44 percent, still sits with the team, with investors and in reserves. That figure belongs next to every buyback calculation: if such holdings are released step by step, additional supply meets the daily demand coming from the buybacks.

The SEC clarification of September 25 and where it stops

The SEC's Division of Corporation Finance published a set of questions and answers on crypto assets on September 25 and updated it on September 28. Question 2.5 addresses exactly the Pump.fun model: whether announcing a buyback program amounts to a promise of entrepreneurial effort, as would be typical for a security under US law. The answer in the SEC's FAQ is no, but only where a crypto system is functional and has no central party.

That condition is far from a given at Pump.fun. The buybacks are decided and carried out by a company that operates the platform. For systems that are not functional in this sense, the SEC expressly notes that such an announcement could indeed constitute a promise. On top of that, the answers represent the staff's view. They are not a rule of the Commission and not a verdict on any single token. Anyone who reads this as the SEC clearing the way for PUMP is reading more into it than is there.

The clarification matters nonetheless. It takes the edge off a widespread objection to buyback models, namely that the buyback alone turns a token into a security. For investors in Germany it changes nothing in legal terms, because the European MiCA regulation applies here.

Revenue this week: 16 million dollars in seven days

The buybacks hang on revenue, and that comes mainly from fees charged when new tokens launch and trade. According to DefiLlama, the Pump group took in around 16.1 million dollars in the seven days to September 29, of which 10.2 million dollars came through the launchpad itself. Over 30 days the figure was 52.9 million dollars. The highest daily figure of the week fell on September 26 at 3.1 million dollars. After that, daily figures ranged between 2.3 and 2.5 million dollars, above the level at the start of the week.

This dependency is the point at which the model is vulnerable. Revenue follows interest in new memecoins on Solana. If that interest cools, fees and buybacks fall together, without anything changing at the platform itself.

These levels frame the week

The first level sits just below the current price: 0.0050 euros is a round threshold that PUMP crossed only in the final days of the week. Below it comes the weekly low at 0.00333 euros, the starting point of the move. To the upside, 0.0060 euros is the next round level and the all-time high at 0.00754 euros the distant one. These values describe where the price has turned recently. They are not price targets.

Buying and storing PUMP in Germany

PUMP is listed on large exchanges that operate in the EU with authorization under the MiCA regulation, among them Coinbase, Kraken, Bitvavo and Bybit EU, according to CoinGecko's list of trading venues. Which providers hold that authorization and what they charge is set out in our comparison of crypto exchanges with a MiCA license. For a token that swings sharply anyway, an exchange without EU authorization is an extra risk that can be avoided.

PUMP is a token on Solana. If you would rather not leave it sitting at the exchange, you need a wallet that supports Solana tokens. For larger amounts a hardware wallet is worth it, because the key never leaves the device there.

On tax, the same rules apply in Germany as for other cryptocurrencies: gains from a sale are tax-free after a holding period of one year. Sell earlier and you pay tax on the gain at your personal rate, provided all private disposal gains for the year together reach the threshold of 1,000 euros. After a week with a gain of almost 50 percent, that is a concrete question. How a sale at a loss and an immediate buyback relate to the holding period is explained in our article on loss sales and the holding period.

Perpetual futures on PUMP are available on several exchanges and decentralized trading venues. For a token that rises by half in seven days, leverage is a sharp blade: at five times leverage, a 20 percent move against you uses up the margin, and the exchange usually closes the position earlier than that.

The risk behind the buybacks

A buyback program supports the price only as long as money keeps coming in. Pump.fun's revenue is high, but it stems from a single business, the launch and trading of new tokens, and that business is cyclical. On top of it sits the holding of around 365 billion PUMP that is not yet in circulation, plus the fact that a company decides on the scale and pace of the buybacks. That is also where the SEC clarification reaches its limit.

Seen from the other side, the model is transparent: revenue and buybacks can be followed daily at DefiLlama, and the burned supply can be read off the supply figures. Anyone holding PUMP can therefore keep checking whether the basis of the price move still holds.

Pump.fun: Your next three steps

1. Check whether your exchange holds a MiCA authorization and lists PUMP, in the comparison of regulated crypto exchanges.
2. Decide where the tokens should sit. For larger amounts, compare suitable devices in the hardware wallet comparison.
3. Record the purchase date and the purchase price so you can document the one-year holding period. The programs in the comparison of crypto tax tools help with that.

(As of October 1, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)