Pump (PUMP) surged about 15% in a single session as the market rebounded. The token briefly reclaimed its fully diluted market cap of around $3 billion, a level last seen in early December, signaling renewed interest in meme coins. The move followed a wave of momentum in late-stage memes such as WHITEWHALE, the AI-themed GAS, and Penguin (PENG), which helped revive trading activity even as overall volume remains significantly below peak levels.
Investors have been drawn to PumpFund’s policy of allocating all protocol revenue to buybacks. On Jan 26, approximately $2 million worth of PUMP was bought on the open market, the largest daily buyback since September of the prior year. This liquidity absorption acts as a price-support mechanism and underscores how revenue-backed incentives can propel momentum in meme coins.
Despite trading about 25% below its ICO market cap of $4 billion, Pump retains potential for further upside as demand returns. The broader meme coin space endured a steep downturn in 2025, but renewed activity across major platforms and tokens has revived investor sentiment this year. Pump’s example highlights that tying meme coins to a revenue-based model can sustain investment appeal when market conditions improve.
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