Pump.fun, the leading memecoin launchpad on Solana, is showing strong signs of recovery after a rough start. PUMP is rallying strongly, hitting a new all-time high (ATH) of $0.00849. The surge comes as market activity around the project grows, pushing its market cap to $2.86 billion.

Buyback Program Restores Confidence

The team behind the project has rolled out a buyback program for its native PUMP token, and so far it has worked in lifting the price.

When PUMP launched, it was one of the most criticized ICOs. The token price dropped over 60%, raising concerns about its tokenomics. So far, the buyback program has pushed around $2 million worth of PUMP into the market each day, creating steady demand. 

Fees on the platform are rising, total value locked is growing, and Pump.fun has quickly become the second most active token in liquidity on Solana.

Trading activity, however, shows that much of this rally is still driven by buybacks and small retail investors, not large whales. Perpetual futures trading also supports short-term price moves, with most leveraged bets leaning bullish.

Weekly Gains and Short-Term Targets

Over the past week, PUMP has gained more than 71%, making it one of the fastest-moving tokens in the Solana ecosystem.

Analysts are predicting that as long as PUMP holds above the $0.0069 support level, momentum remains bullish. Short-term price targets point to $0.01 (1 cent), while some longer-term forecasts say PUMP could climb much higher during the ongoing bull cycle.

For now, PUMP stands out as one of the most-watched tokens in the market, with daily volumes showing strong participation despite concerns about whether all the trading is organic.

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