$pump is currently buying back more than it unlocks, even if you assume every unlocked token gets dumped. @AustinBarack 's math on it: ~$484K/day of sell pressure in the worst case, against ~$700K/day of revenue buybacks... price would need to be roughly 45% higher before those two lines even cross. and that's the deliberately pessimistic version. it assumes every unlocked token hits the market and nothing is hedged with short perps, which he flags as nowhere close to true. and the part i'd watch is which side of that equation is actually fixed. unlocks are denominated in tokens, so their dollar value climbs 1:1 with price. buybacks are denominated in dollars and only climb if revenue does. so that 45% buffer isn't a constant - it holds as long as fees grow alongside the price, and it compresses the moment price runs ahead of revenue. on https://t.co/LhvfHDdRVy those two are genuinely linked, since the revenue comes from trading activity, so the buffer tends to widen in exactly the conditions that lift the price. the flip side being that revenue thins out precisely when you'd want that bid most. so the number to track here isn't the price, it's whether daily revenue holds that ~$700K line..