Pump.fun spends over $62.6 million on token buybacks to stabilize price and reduce sell pressure. Daily repurchases range between $1.3 million and $2.3 million, funded by platform revenue. The platform has generated $775 million in revenue since launch, with a recent revenue drop to $1.72 million weekly.

The number of unique PUMP holders has surpassed 70,800, with smaller wallets accounting for 46% of distribution. Pump.fun faces competition from LetsBonk in Solana memecoin launchpad rankings. Despite a temporary loss of dominance, Pump.fun has reclaimed the top spot with 73% market share.

Pump.fun is hit with a $5.5 billion lawsuit alleging the use of “guerrilla marketing” tactics to create artificial hype around volatile tokens. The amended lawsuit describes Pump.fun as an “unlicensed casino” resembling a “rigged slot machine,” causing total investor losses of $5.5 billion.

Read more at Cointelegraph: Pump.fun Spends $62M on Buybacks to Stabilize PUMP Price