PUMP: 11% of Supply Bought but Price Still Struggling, DeFiance CEO Questions
PUMP is holding above an important support band after the project announced buybacks that amounted to about 11% of circulating supply, but the token has failed to reclaim meaningful upside. The buyback activity has drawn attention on-chain and in social channels, and DeFiance Capital CEO Arthur Cheong publicly asked why market reaction has been muted despite the aggressive supply reduction.
The disconnect highlights lingering concerns about liquidity, distribution and broader market sentiment that simple buybacks may not solve by themselves. For holders and traders, the situation matters because it could signal continued sell pressure, concentrated wallets, or doubts about long-term utility. Watch on-chain flows, exchange order books and any communication from the project on buyback cadence or burn mechanics for signs of a sustainable recovery or further consolidation.