PUMP Soars 20% on Buyback Frenzy—But Critics Ask: ’Where’s the Utility?’

Pump fun’s token PUMP rockets 20% after a strategic buyback—yet skeptics question whether the move masks deeper flaws.

Buyback Hype Meets Reality Check

The surge follows aggressive token repurchases, but analysts whisper: 'Is this just financial engineering?'

The Utility Elephant in the Room

Despite the price pop, PUMP’s long-term viability faces scrutiny—because, let’s face it, even meme coins need more than hopium to survive.

Cynical Finance Jab
: Another day, another crypto project propping up its price with buybacks—because who needs fundamentals when you’ve got a Telegram group and vibes?

Valuation concerns

Despite the impressive performance of the token, market concerns about its long-term value have begun to emerge.

In a recent report, BitMart Research raised concerns about the token’s lack of inherent utility.

The report pointed out that PUMP offers no governance rights, profit-sharing mechanisms, or fee returns, meaning its value primarily depends on brand hype, an unreliable driver for long-term token performance.

According to the firm:

“The token lacks real utility or governance rights, and fear the launch is more of a liquidity exit than a long-term plan. The team’s history of selling platform fees instead of supporting the community has only deepened concerns.”

Moreover, BitMart noted that Pump.fun’s dominance is being challenged by emerging platforms such as letsbonk.fun.

While BitMart conceded that the BONK token also avoids offering governance or ownership, the firm noted that rival token models include built-in liquidity and deflationary mechanisms, which create market depth and price support.

Considering this, the research firm concluded:

“The future of PUMP depends on whether the team can build a stronger token value and regain market trust after the initial pressure.”