PUMP (PUMP)

There's a case to be made that $PUMP may be the real beta from memes on Solana continuing to send higher.

$ANSEM sent to $80M

$SOL has stabilized ~$72 while the number of new wallets on Pump continues to spike, indicating users are rotating back to the trenches.

Meanwhile, $PUMP is trading at rock bottom valuations:
- P/S: 1.76x
- P/F: 0.74 trading below annualized fees
- 30d revenue: $26.4M
- Buyback yield at current rev: ~29% annualized
- Supply burned: 36% ($370M)

One thing to note is graduation rate is at 0.26%, but if the rate recovers to just half its March peak, the buyback could create a reflexive bid front runing the revenue.

Additionally, most mature DEX token trades around 3.5x P/F.
- $HYPE 14.7x
- $UNI 3.5x
- $JUP 3.5x
- $CAKE 3.5x
- $RAY 3.1x

Outside of Hyperliquid, none of its peers trade below 3x.

Even if you applied a 50% cyclicality discount to account for memecoin dependency, so 1.5x P/F ~$1.14B mktcap.

It's 106% upside from here, picks and axes play.

> he has been calling out pumpfun to do an airdrop actively in the last few days
> someone launched a token ansem
> ansem actually holds 60-65% of the supply
> he promised to airdrop a portion of his creator earnings from pumpfun
> he knows, he has the potential to pump the trenches

he thinks he own the trenches, actually he does, look at the prices

flattened out overall and just watching and waiting. there are a few coins like PUMP that I'm watching + also some pullbacks on coins like AAVE/DYDX and some momentum plays like SYN/JTO but overall, more just waiting. Traveling again tomorrow so prob will just be flat