Yesterday I was doing some sidewalk riding with my road bike and there was huge gap between the sidewalk partials. I was going too fast to go around the gap so I decided to bunny hop it. Well, I didn't do it right, so the rear wheel hit the edge of the sidewalk part in a really direct way and it sounded loud.

Minute later I had a flat so I had to walk home which was a mile away. When I got home I tried to repair it and I saw 2 holes opposite of each other, indicating the pinch flat that everyone seems to talk about. What doesn't make sense to me is that I had at least 80 psi in the tire.

I repaired both holes, mounted and inflated the tire, and now there are little soft bumps on the opposite side of the tire where there were holes, spanning about 10 inches, so I guess the tire is ruined. It was one of those cheapo kenda, $15 , 27 1 1/4 tires. The wheel is in tact, thankfully.

Am I correct in assuming that it was a pinch flat and that those bumps that appeared are the result of pressure displacement due to impact? I know the answer seems obvious, but I was just wondering what your take on it is.

You just learned road bikes belong on the road.
How much do you weight?

175 lb, but it was a bad impact while I was standing on my pedals. Yes I know, but the store was close by and I didn't wanna bother with the helmet and wanted to take it easy, which wasn't so easy.

You had a pinched flat.

First yes thats what called a pinch flat, 80 psi isn't that much for a road tire of that size but pressure also depends on weight, that said normal pressure is normally around 90 -110 for most people I'd say for your weight I'd most likely run min. 100 psi and go up to 110 maybe.
As far as the soft spots you are talking about, it actually sounds like maybe you have the tube twisted inside and that's what the soft spots are remove tire and check tube make sure you have a little air in the tube when installing to keep shape.

80psi seems underinflated for road bike so pinch flat would be a concern even if all you dis was hit a small bump. But, irrespective of inflation, it sounds like you took a direct really hard hit on the tire, which ruptured tube and ruined tire. So a bit more than a garden variety pinch flat. Seems fortunate that you didn't also ding up your rim.

I did it 2 times to make sure bumps aren't the result of tube being twisted. Well I guess my tire is ruined, but that's ok, better than a ruined rim. I am definitely going to reconsider my sidewalk riding habits. I usually have it more inflated, but this time there was no reason to. At least I learned something new.

Thanks all for your input.