PUMP (Pump.fun) has fallen 0.73% in the last 24 hours.

Gate News Bot news, on August 14, according to CoinMarketCap data, PUMP (Pump.fun) is currently priced at $0.00391898, down 0.73% within 24 hours, with a high of $0.00414782 and a low of $0.00304558. The 24-hour volume reached $305 million. The current market capitalization is approximately $1.387 billion, a decrease of about $10.22 million compared to yesterday.

Pump is a platform that allows anyone to create tokens. All tokens created on Pump are fairly issued, meaning that when the tokens are first created, everyone has an equal opportunity to buy and sell.

PUMP Recent Important News:

1️⃣ The large-scale buyback plan continues The official Pump.fun has repurchased 175.3 million PUMP tokens from the market in the past 24 hours, approximately worth $705,000. So far, Pump.fun has repurchased a total of 7.66 billion PUMP, valued at around $30.65 million, accounting for 0.766% of the total supply. This ongoing repurchase action demonstrates the team's support for the token's value and helps stabilize market confidence.

2️⃣ The team selling part of SOL raises concerns The Pump.fun team recently sold 86,000 SOL for 16.28 million USDC for the first time. This transaction is the first sale of SOL after the coin issuance and may be used for operating funds or further PUMP repurchases. Although the team's fund allocation is a normal operation, it has also raised market concerns about the project's fund usage.

3️⃣ Increased Participation of Large Investors The whale address Regbil spent 6 million USDC to purchase 1.5 billion PUMP through 6 wallets in the Pump.fun public offering, and sold all at $0.0059 before the price fell, securing a profit of 2.85 million dollars. The active participation of such large investors reflects the appeal of PUMP among institutional investors, but it may also lead to short-term price fluctuations.

From a technical perspective, the PUMP price fluctuates within the range of $0.00304558 to $0.00414782, showing a certain level of resilience. Fundamentally, the Pump.fun platform continues to conduct buybacks, but the team's sale of SOL has also triggered different interpretations in the market. Investors need to closely monitor the platform's subsequent use of funds and the trading trends of large holders.

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