PUMP Token in Crisis: Airdrop Delay Sparks Panic as Sell-Off Accelerates

“It’s not going to take place in the near future.”

With that single sentence, PumpFun co-founder Alon flipped the mood on an already shaky project. The long-anticipated PUMP airdrop—once seen as the token’s saving grace—has been delayed indefinitely. Within hours of his livestream appearance, PUMP dropped over 12%, plunging below its ICO price of $0.004. And just like that, optimism gave way to open panic.

The fallout didn’t stop with the price. Social media turned savage. Screenshots of fiery Discord arguments flooded crypto Twitter. Even longtime backers turned sour. Influencer @beast_ico didn’t mince words, calling PUMP “the worst coin I ever owned.” That kind of public sentiment turns cold feet into full-blown exits.

Meanwhile, the order books are drowning in sell pressure. Team wallets, early investors, and whales aren’t just offloading—they’re hammering the bid at every level. There’s no strategic waiting. No price defense. Just a constant bleed of tokens below $0.004. It’s not a correction—it’s an escape.

Then there’s the uncomfortable truth about supply. Nearly 80% of all PUMP tokens sit in just 20 wallets. The public got scraps. Whales and insiders got the rest—and they’re using it. With that kind of control, token holders have little protection. One big move and the floor disappears.

PumpFun Takes The Heat

Platform metrics paint a grim picture. PumpFun’s daily volume has shrunk to barely 30% of its peak. Revenues are down 90%. The buyback program that was once rumored to provide support has yet to show any real form. No timeline. No updates. No trust.

Adding pressure, competitors are roaring ahead. Let’sBonk has surged past PumpFun in both traction and public attention. Its platform is shipping faster, its TVL is climbing, and its token launches are more consistent. What was once a neck-and-neck race now looks like a clear lead.

BonkFun also just committed 1% of total revenue to token buybacks, something tangible that reinforces price stability. Meanwhile, PUMP has lost over a billion dollars in protocol fees and has no visible mechanism to support price action. The contrast couldn’t be more damaging.

And let’s not forget the blackout around transparency. There’s still no public audit. No vesting disclosure. Token allocations move quietly between wallets, with no insight into who holds what, or when new supply might unlock. Retail participants are left guessing, and that’s never good in a volatile market.

Alon said there will be no Airdrop… soon

That is only first reason why $PUMP is dumping

🧵: Here are 7 more reasons why it will go almost to ZERO

What’s Bonk role?

(1/9) pic.twitter.com/IWs10zA1Bd

— hexdrunker (@hexdrunker) July 24, 2025

Still, a few voices hold out hope. Some point to PumpFun’s team: young, sharp, and deeply embedded in Solana’s core builder community. Others note the war chest, reportedly large enough to fund acquisitions and experiments. In crypto, being the most hated project can sometimes be an edge, especially if you’re still dominating attention.

But make no mistake: the path forward is narrow. PUMP isn’t just battling sell pressure, it’s facing a full-blown crisis of confidence. To survive, it needs more than clever developers. It needs clarity, leadership, and a reason for holders to believe again. Until then, the question remains: will PumpFun find its second wind, or sink quietly to zero?

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!