Blockworks Research analyst Shaunda Devens analyzed that PUMP, the native token of Pump.fun (PUMP), a Solana-based memecoin issuance platform, is undervalued compared to its sales. Combining three scenarios, she stated it could rise to $0.0108-$0.0205, which is 2.3-4.4 times its current price. She explained that Pump.fun's annualized revenue reaches $677 million, but its price-to-sales (P/S) ratio is only 2.8x. She added that the buyback amount, which allocates 50% of revenue, corresponds to approximately 17.6% of the annual circulating supply at the current price. However, she cited insider holdings and transparency issues as risk factors, and in a bearish scenario, she suggested it could fall by 59-76%.
