PUMP is facing its sharpest decline yet, as investor confidence evaporates amid uncertainty over its airdrop timeline.
The token plunged over 12% in a day, continuing a slide that has now pushed it below its original ICO price.
The selloff came after Pump.fun cofounder Alon Cohen clarified in a livestream that no airdrop would be happening “in the near future.” Although the distribution remains part of the roadmap, Cohen emphasized that growing the platform and ecosystem engagement are now the top priorities.
Traders didn’t wait. Two wallets tied to early backers offloaded 1.25 billion tokens, accepting a $1.19 million loss in the process. The price collapse has been swift—PUMP has now dropped over 50% from its post-sale peak of $0.0067 and hovers near $0.003.
Pump.fun exploded in early 2024 with a viral memecoin launch platform on Solana, rapidly generating nearly $1 billion in volume. Its token launch was met with overwhelming demand, but momentum has since faded as expectations around utility and rewards go unmet.
Disappointed community members have accused the team of backing away from their early promises, drawing comparisons to other high-profile crypto projects that delayed or canceled airdrops after community growth.
With speculation fading and token farming no longer propping up demand, PUMP now faces a critical moment. Whether the project can build genuine traction without relying on short-term incentives will determine if this downturn is a temporary stumble—or something worse.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/airdrop-delay-triggers-panic-selloff-for-pump-token/