important notes
- PUMP is trading 7.2% lower and is above the key support at $0.0034.
- Defiance Capital’s founder questions why prices are lagging despite massive share buybacks.
- As the meme coin hype dies down, community concerns are growing.
Pump.fun (PUMP) is down 7.2% over the past 24 hours and is trading just above the key support zone at $0.0034.
PUMP, one of the top meme coins, has been in a continuous downward trend for two months, losing about 58% of its value since mid-September.
This drop in PUMP’s price sparked criticism across the crypto community, including DeFiance Capital founder Arthur Cheong. Cheong recently asked X why Memecoin remains below its July public price of $0.004 despite aggressive buybacks.
The executive noted that Pump.fun has already bought back about 11% of its circulating supply.
According to data shared by the platform, the value of PUMP purchased so far is over $175 million. Cheong suggested that at this pace, PUMP’s share buybacks could reach $400 million to $500 million a year.
What's your best explanation for why $PUMP is still trading below its public sale price of $0.004 despite the fact that they have bought back 11% of the circulating supply since the buyback started?
Pump Fun is on track to buy back ~$400m – $500m of their token annually.… pic.twitter.com/8Plc4Njqh9
— Arthur (@Arthur_0x) November 13, 2025
In general, buybacks can be very positive for altcoins as they reduce the circulating supply and can support price appreciation.
However, in the case of PUMP, despite these buybacks, the price continues to fall. This has led to increasing doubts about the long-term sustainability of the project.
Why is Pump.fun’s enthusiasm fading?
Platform-specific issues and a cooling memecoin market have led to increased skepticism about Pump.fun.
Analysts highlight the waning interest in meme coins among retailers overall, while the proliferation of inorganic token launches that create artificial hype.
Legal concerns are also adding to the pressure. Pump.fun is facing a class action lawsuit in the US for allowing unregistered token sales and causing massive losses.
Related article: Is PUMP back? Pump.Fun regains top spot, Four.Meme falls behind
Critics claim the team has been slow to implement governance measures and suffers from inconsistent communication.
Additionally, the pending PUMP airdrop further raised concerns about supply and eroded the confidence of many community members.
What’s next for PUMP prices?
Many market participants have already lost confidence in both PUMP and the broader meme coin sector.
However, popular crypto trader ACX noted on X that Memecoin continues to trade within a descending triangle pattern and could soon breakout.
The trader also warned that PUMP could briefly fall towards the lower bound near $0.0025 before starting a solid move higher.
$PUMP as a bet on meme coins
Many have already lost faith in this project and are worried about the current state of the memecoin industry as a whole.
That’s no good.
Look at the chart. The optimistic scenario is an increase from current levels.
Or drop to the lower triangle… pic.twitter.com/xRBoEYWU8L— ◇.ACX◇ (@ACXtrades) November 13, 2025
Another crypto expert, Altcoin Sherpa, also shared an optimistic outlook on the PUMP price. He argued that PUMP currently presents a medium-term opportunity over the next four to 12 weeks, citing strong platform revenues.
imo $PUMP is a decent buy in this area for long term holding (probably 4-12 weeks). I still think this is one of the best projects in terms of revenue and so on. This region is a solid support region. pic.twitter.com/8Ks5icOdaF
— Altcoin Sherpa (@AltcoinSherpa) November 14, 2025
According to him, if the token can sustain the $0.0034 support zone, it could establish a bullish setup and start reversing recent losses.
Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information but should not be taken as financial or investment advice. Market conditions can change rapidly, so we recommend that you verify the information yourself and consult a professional before making any decisions based on this content.
