PANews reported on November 14th that Arthur Cheong, CEO and Chief Investment Officer of DeFiance Capital, tweeted that PumpFun has repurchased 11% of the circulating supply of PUMP tokens since launching its buyback program, with an estimated annual buyback scale of $400 million to $500 million. However, despite this, the current price of PUMP remains below its public offering price of $0.004, indicating that the market is still in a "speculative discount" phase for the asset.