🚨 $PUMP just entered a war with its own cap table.
PumpFun burned $370M worth of tokens, removing 36% of circulating supply.
Half of future revenue is now promised to buybacks and burns.
That sounds powerful until you realize what happens this week:
$193.3M in unlocks are coming from holders who got cheaper paper than current buyers, while token price still sits 60% below listing.
So the market isn’t judging the burn.
It’s judging whether insiders sell faster than protocol cash can repurchase.
That’s a very different battle.
Burns reduce float slowly through demand.
Unlocks increase float instantly through optional supply.
If unlocked wallets want exit, buybacks can become a public subsidy for private distribution.
This week likely decides whether $PUMP is a yield-backed recovery story… or a treasury defending a falling chart.
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