TREE NEWS reports: Blockworks Research published a valuation report on PumpFun’s PUMP token, setting a base-case range of $0.0108-$0.0205, or 2.3-4.4 times its September 9 price of $0.0047. The report cites PumpFun’s $677 million annualized revenue, a 50% programmatic buyback absorbing about 17.6% of circulating supply annually, and a 2.8x price-to-sales multiple it calls a discount to peers.
Blockworks Research Values PUMP at $0.0108-$0.0205, Sees 2.3-4.4x Upside
AI take
The notable move here is a research desk applying a conventional revenue-and-buyback framework to a memecoin-launchpad token, a segment usually valued on narrative rather than cash flow. The buyback is the structural pivot: if it absorbs a meaningful share of circulating supply, it changes the token's demand profile from purely speculative to partially cash-flow-linked. Whether that mechanism holds up in practice, and whether peers converge on similar multiples, is the open question.
Generated by AI for reference only.
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