PUMP (Pump.fun) rose 12.96% in the last 24 hours.

Gate News Bot message, on October 13, according to CoinMarketCap data, PUMP (Pump.fun) is currently priced at $0.00424932, with a rise of 12.96% in the last 24 hours, peaking at $0.00665998 and dipping to $0.00113337. The 24-hour volume reached $451 million. The current market capitalization is approximately $1.504 billion, an increase of $173 million compared to yesterday. PUMP currently ranks 58th in global Crypto Assets market capitalization.

PUMP recent important news:

1️⃣ Large-scale repurchase plan continues to advance The Pump.fun platform has implemented a PUMP token buyback plan since July 15, and as of October 7, it has cumulatively repurchased approximately $131.5 million worth of PUMP tokens, reducing the total circulating supply by 8.127%. The ongoing buyback actions help to reduce market circulation, providing support for the PUMP price.

2️⃣ Platform revenue shows a declining trend The income of the Pump.fun platform in the last 24 hours has dropped to $885,000, down from $1.4 million of its competitor Four.Meme on the BNB Chain. This indicates that the speculative frenzy on the Solana chain may be cooling down, and the platform's activity and user engagement may face challenges.

3️⃣ Large Amount PUMP Inflows to Exchanges Raise Attention On October 6, a wallet suspected to be associated with the Pump.fun team transferred 3.126 billion PUMP (approximately 20.54 million USD) to an exchange. The large token transfer may raise market concerns about potential selling pressure, affecting short-term price trends.

The price of PUMP tokens has experienced significant fluctuations recently, benefiting from ongoing buyback support on one hand, while facing increased platform competition and potential sell-off pressure on the other. Technically, the PUMP price has seen substantial volatility in the past 24 hours, rebounding from a low of 0.00113337 USD to a high of 0.00665998 USD, indicating strong market volatility.

This message is not intended as investment advice; investors should be aware of market volatility risks.