Pump Fun Coin fell over 17% in the past 24 hours, sliding to $0.0044, despite solid fundamentals and one of the strongest buyback programs in crypto.
The decline comes as traders digest macro weakness across Solana tokens and uncertainty surrounding Pump.fun’s recent Padre acquisition and pending PUMP airdrop, which has yet to be distributed.
Profit-Taking and Macro Pressure Hit Solana Tokens
Pump Fun price correction aligns with a broader retracement in high-volume Solana assets, including Virtuals Protocol (-12.8%), and with the wider crypto market crash that saw Bitcoin fall below $107k.
Analysts suggest the dip is profit-taking after months of steady buybacks, not fundamental deterioration.
According to Token Terminal, Pump.fun still generated $29.3 million in revenue over the last 30 days, ranking third among all DEXs, behind Hyperliquid and PancakeSwap.
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On-chain data shows total platform revenue exceeding $709 million over the past year, accounting for roughly 24% of the decentralized exchange’s income, a massive figure for a Solana-native project.
Still, traders appear cautious ahead of the Padre integration and the forthcoming PUMP airdrop, which is expected to compensate former $PADRE holders.
While the airdrop has not yet been distributed, market participants are repositioning, anticipating short-term volatility once those tokens go live.
Buybacks Continue, But Price Momentum Falters
Despite the drop, buyback activity remains aggressive. Pump.fun spent another $1.44 million on PUMP repurchases in the past 24 hours, equating to 100.4% of the previous day’s revenue, according to data.
In total, more than $158 million in PUMP coins has been bought back since July, offsetting roughly 9.8% of the total supply.
The issue, however, lies in market absorption. With circulating supply now at 354 billion PUMP and several investor tranches still underwater, liquidity inflows haven’t been sufficient to sustain price momentum.
For now, buybacks appear to be stabilizing deeper drawdowns rather than triggering sustained rallies.
PUMP Coin Tests Support Near $0.0042
The 4-hour chart shows PUMP consolidating around $0.0044, with a clear support band at $0.0042, a level that previously held during early-October volatility. Bollinger Bands are tightening, suggesting a potential volatility squeeze.
According to TradingView metrics, 10 of 23 key indicators signal a sell, while the RSI remains neutral at 48.1. Short-term resistance sits near $0.0049, with a break above likely opening the door to a retest of $0.0053. Failure to hold $0.0042, however, could trigger stops down to $0.0039.
For now, momentum is flat and traders appear to be waiting for a clear catalyst, possibly the airdrop event or next week’s buyback data.
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