If you're diving into the wild world of meme coins on Solana, Pump.fun has been a game-changer as the premier launchpad for quick token deployments. But a recent thread from Delphi Digital analyst Simon on X is turning heads with some serious number-crunching on Pump.fun's revenue and its implications for $PUMP token holders.

Simon highlights how Pump.fun's daily revenue has skyrocketed. Over the last seven days, they've pulled in an average of about $1.8 million per day— a huge jump from the $680,000 average in July. What's exciting? They're channeling 100% of that revenue straight into buying back $PUMP tokens. If you annualize that recent performance, it points to a whopping $656 million in buybacks against a current market cap of $1.27 billion. That could mean snapping up around 52% of the circulating supply, with no new token unlocks until July 2026 (barring any surprises like airdrops or incentives).

For context, buybacks in crypto work like stock repurchases in traditional finance—they reduce the total supply of tokens in circulation, which can drive up the price if demand stays steady or grows. It's a way for projects to return value to holders without dividends. Simon compares this to Hyperliquid, another player in the space, which averaged $3.52 million in daily revenue this week. That annualizes to $1.28 billion in buybacks, but against their $15 billion market cap, it's only about 8.56% of supply. Pump.fun's setup looks way more aggressive and potentially rewarding for $PUMP owners.

Of course, Simon notes a caveat in his follow-up: Launchpad revenue can be super volatile compared to something like Hyperliquid's dominance in perpetual futures trading. Meme coin launches ebb and flow with market hype, so sustaining this momentum is key. If Pump.fun keeps the pedal to the metal and sticks to full revenue allocation for buybacks, the supply squeeze could be massive.

The thread sparked some lively replies too. One user pointed out the declining number of active meme traders and suggested an airdrop could help recharge the ecosystem by reimbursing players. Another raised concerns about the team's lack of clear commitments—buybacks seem to happen on "vibes" without a formal social contract. And yeah, there's chatter about whether this could reprice $PUMP to a much higher valuation, maybe even $7.5 billion or more.

At Meme Insider, we're all about keeping you ahead in the meme token game. This kind of revenue-to-buyback model isn't new, but Pump.fun's scale on Solana—home to hits like Dogwifhat and Bonk—makes it stand out. If you're holding $PUMP or eyeing meme launches, watch how this plays out. It could signal a "Pump.fun supercycle," as one reply put it, boosting liquidity and excitement across the board.

For the full scoop, check out the original thread on X. What's your take—bullish on $PUMP, or waiting for more clarity? Drop your thoughts below!