Pump.fun PUMP Token Plummets 50% Amid Airdrop Delay
Pump.fun’s PUMP token has plunged over 50% since its $0.004 presale price. It briefly spiked to $0.0067 at launch but fell below its ICO price soon after. Private sale wallets dumped 1.25 billion PUMP at $0.00305, locking in $1.19 million in losses. Meanwhile, data from Lookonchain shows major backer Machi Big Brother continues to accumulate despite unrealized losses exceeding $5.8 million.
Founder Alon Cohen confirmed the airdrop will go ahead, but it is not imminent. The team plans to publish the official schedule and rules soon. The delayed airdrop aims to reward long-term supporters and boost the Pump.fun ecosystem. Traders should watch for renewed interest and stay prepared for continued market volatility in PUMP token trading.
Bearish
The combined news highlights significant downward pressure on the PUMP token. A more than 50% price drop and large private wallet sell-offs underscore current market weakness. The delayed airdrop introduces further uncertainty, likely weighing on short-term sentiment and trading volume. While the eventual airdrop and ecosystem development could support a turnaround, the lack of a firm schedule may prolong volatility. Traders may remain cautious until clearer timelines emerge, suggesting a bearish outlook for PUMP token in the near term.