The PUMP token, native to Solana memecoin launchpad Pump.fun, has crossed the $3 billion fully diluted valuation threshold for the first time since January. With the token trading at roughly $0.003062 and a circulating market cap near $1.2 billion, only about 39% of the maximum supply of 1 trillion tokens is currently in circulation. The platform redirects half of its trading fee revenue to token buybacks and burns, creating persistent buy pressure. The current $3 billion valuation represents roughly a 25% discount to the July 2025 public sale, which raised $500 million at a $4 billion fully diluted valuation. Market participants are closely watching the cadence of token unlocks relative to burn rates, with 61% of the maximum supply not yet in circulation.
Source: Read the original article
