$PUMP It's about $0.0039 right now.
What I care about most for this coin isn’t the meme-cycle, but the fact that Pump.fun has become one of the few real crypto applications with cash flow.
Pump.fun’s cumulative protocol revenue has already exceeded $1 billion, and in the past, buybacks and burns have consumed more than $200 million worth of PUMP.
But PUMP also has an issue that must be made clear: unlocking.
Currently, there are about 468 billion tokens in circulation. Over the next 12 months, according to the existing unlocking schedule, the circulating supply could increase by about 66%. Even though the protocol continues to burn tokens, the burn rate is currently not fast enough to offset the circulation increase caused by unlocks.
So I’m not going to chase PUMP blindly just because of the words “buyback and burn.”
At the $0.0039 level, I’m willing to take another look, because it already has real revenue and ongoing buybacks, and the price has been pushed back down again.
What to watch next is simple: protocol revenue and buyback pace—can they continue to improve enough to absorb the impact of the unlocks.
What I care about most for this coin isn’t the meme-cycle, but the fact that Pump.fun has become one of the few real crypto applications with cash flow.
Pump.fun’s cumulative protocol revenue has already exceeded $1 billion, and in the past, buybacks and burns have consumed more than $200 million worth of PUMP.
But PUMP also has an issue that must be made clear: unlocking.
Currently, there are about 468 billion tokens in circulation. Over the next 12 months, according to the existing unlocking schedule, the circulating supply could increase by about 66%. Even though the protocol continues to burn tokens, the burn rate is currently not fast enough to offset the circulation increase caused by unlocks.
So I’m not going to chase PUMP blindly just because of the words “buyback and burn.”
At the $0.0039 level, I’m willing to take another look, because it already has real revenue and ongoing buybacks, and the price has been pushed back down again.
What to watch next is simple: protocol revenue and buyback pace—can they continue to improve enough to absorb the impact of the unlocks.