PUMP Token Drops 14% Amid Whale Dump and Airdrop Delay
PUMP Token plunged over 14% in 24 hours after founder Alon Cohen confirmed that its airdrop has no set timeline. The token, initially priced at $0.004 during its ICO and peaking at $0.0068 on July 16, now trades near $0.0031 following two private-sale wallets dumping 1.25 billion PUMP at $0.003 and realizing $1.19 million in losses. Major trader ‘Machi Big Brother’ Huang also posted $5.8 million in long-position losses as selling pressure mounted. On-chain data show PUMP remains below its 50- and 100-day EMAs, with the 1D RSI at 55 and the 3-hour MACD below its signal line. This whale dump and airdrop delay have intensified bearish momentum and spooked traders, signaling continued market volatility for Pump.Fun’s token.
Bearish
The combined impact of a delayed airdrop and a large whale dump has triggered heavy selling pressure on PUMP Token. Key technical indicators—including a drop below the 50- and 100-day EMAs, a 1D RSI at 55 with downside room, and a 3-hour MACD below its signal line—support a bearish outlook. Significant losses by private-sale wallets ($1.19 million) and a major trader ($5.8 million) have shaken market confidence. In the short term, traders should brace for continued volatility and potential further declines. Long-term recovery will depend on tangible ecosystem developments and transparent airdrop plans.