The scale of Pump's potential buybacks deserves attention. Over the past 7 days, they've averaged ~$1.8M daily revenue, up dramatically from the $680k they averaged in July. With 100% of revenue directed towards $PUMP buybacks, the math becomes compelling: Annualizing last week's performance would put them at $656M in potential buybacks against a $1.27B market cap. That's roughly 52% of circulating supply, with no new unlocks until July 2026 (assuming no dilution from an airdrop/incentives). For perspective: Hyperliquid averaged $3.52M daily revenue this week, translating to $1.28B annualized buybacks. But against their $15B market cap, that represents just 8.56%.
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