The native token of Pump.fun has just reclaimed a key level at $0.0020, driven by a massive buyback program exceeding $414 million. The meme coin launchpad on Solana is now posting daily revenues that eclipse those of Hyperliquid. But the question remains wide open: can this momentum hold over time?

Pump.fun Outpaces Hyperliquid: The Revenue Machine Kicks Into Overdrive

The numbers speak for themselves. Pump.fun recorded $7.45 million in revenue in a single day, surpassing Hyperliquid — one of the most profitable DeFi protocols on the market. This performance places Pump.fun among the highest cash-flow-generating on-chain protocols across the entire crypto ecosystem, regardless of chain.

This level of revenue is driven by the sheer volume of meme coin creation and trading activity on the platform. Every token launched through Pump.fun generates fees, and traders’ appetite for these speculative assets remains intact despite broader market volatility. The platform captures a significant share of the speculative flow on Solana, cementing its position as one of the most active on-chain engines in the ecosystem.

This revenue stream is the direct fuel powering the buyback program. The more fees the platform generates, the more resources it has to repurchase PUMP on the open market — a mechanism that creates structural buying pressure on the token.

$414M in Buybacks: Structural Support or Just Noise?

The buyback program run by Pump.fun ranks among the largest ever deployed in the DeFi token space. With over $414 million allocated to buybacks, the platform is sending a clear signal to the market: it is using its revenues to actively support the token’s valuation rather than diluting holders.

This type of mechanism echoes traditional finance share buyback programs — an analogy that institutional investors understand well. By reducing the circulating supply through regular repurchases, Pump.fun creates an artificial demand floor that can cushion corrections and amplify bullish phases. The return to the $0.0020 level is a direct illustration of this: the level had been lost during a consolidation phase, and the buybacks played a key role in reclaiming it.

Whether this level can hold is another question entirely. Technical resistance above $0.0020 is plentiful, and market sentiment around meme coins remains fickle. A reversal in the Solana market or a drop in token creation volume could quickly erode the revenues available for buybacks — and with them, the buying pressure on PUMP.

PUMP Faces Resistance: What the Price Action Is Saying

From a technical standpoint, reclaiming the $0.0020 level represents a short-term bullish signal. This threshold previously acted as a major support before being broken to the downside, and the return above it transforms the level into a reclaimed support — a classic support-turned-resistance reclaimed pattern that traders watch closely.

The volume accompanying this move will be decisive. A confirmed breakout backed by rising volume would reinforce the bullish case and open the door toward the next resistance levels. Conversely, a drop back below $0.0020 without a fresh fundamental catalyst would signal a false breakout and could trigger a new distribution phase.

On-chain indicators are equally worth monitoring: the trajectory of Pump.fun‘s daily revenues, the pace of actual buybacks, and token creation activity on the platform will be the most reliable signals for anticipating the token’s next directional move.