strong buy
pump.fun Uses Fees to Rebuy PUMP Instead of Selling Directly
Over the past seven hours, pump.fun has transferred 187,770 SOL in transaction fees to a specific address to acquire PUMP, deviating from its previous pattern of directly transferring the fees to Kraken for selling. As per blockchain analyst Yu Yan, following the token issuance, pump.fun began using its fee income to repurchase PUMP tokens instead of selling them immediately. During this period, they moved 187,770 SOL (worth approximately 30.53 million USD) to address 3vkp...3WTi, then used these funds to buy PUMP. The purchased PUMP was subsequently transferred to address G8Cc...kqjm for storage. Currently, they have used 111,953 SOL (around 18.34 million USD) to acquire 3.04 billion PUMP tokens at an average price of $0.006.
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AI Analysis
The recent on-chain activity from pump.fun signals a strategic shift in their approach to handling transaction fees. Instead of following the conventional route of converting fees into fiat through ex...
AI Recommendation
Given pump.fun's apparent commitment to using transaction fees for token buybacks rather than selling directly, it suggests a positive outlook and a strategic move to support PUMP's price. Investors s...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.