PUMP Tanks 50% After ICO as Airdrop Delay

Hype Dies Fast as PUMP Slides Below ICO Price

PUMP, the native token of meme coin launchpad Pump.fun, has crashed over 50% in under two weeks since its public debut. After launching at an ICO price of $0.004, the token briefly pumped to $0.0067, only to tumble below $0.005 soon after. On Tuesday, it broke beneath its initial price—and continued to drop after the project’s founder, Alon Cohen, poured cold water on airdrop expectations.

Speaking in an interview with Michael “ThreadGuy” Jerome, Cohen confirmed that an airdrop is still coming but not in the near future.

Founder Defends Delay, Promises “Meaningful” Rewards

Cohen said the team is aiming to make the airdrop “meaningful” and well-executed, not just rushed out to satisfy hype. “We want to make sure it’s done right,” he emphasized, noting that the platform has been growing for over a year and deserves rewards that match its long-term vision.

But with no clear timeline, the market reacted swiftly—and harshly. PUMP’s price saw a sharp sell-off, leaving many holders deep in the red.

Big Players Double Down as Whales Bail Out

Despite the market downturn, Jeffrey Huang (aka Machi Big Brother) is doubling down. According to Lookonchain, Machi has added to his PUMP long position, even while showing a paper loss of over $5.8 million since the token’s peak.

Meanwhile, wallets linked to private sale investors have been offloading tokens aggressively. In the last few hours alone, these wallets dumped 1.2 billion PUMP at $0.003, resulting in an estimated loss of $1 million. This pattern suggests some insiders are losing patience with the token’s underperformance and unclear roadmap.

Airdrop Uncertainty Casts Long Shadow

The initial promise of an airdrop helped build momentum leading into the ICO, but the vague timeline and lack of detail are now eroding investor trust. Cohen insisted that communication will improve, and timelines will be shared when ready, but so far, that hasn’t stopped the bleeding.

Pump.fun, which has played a key role in launching meme coins with viral potential, is now struggling to rebuild excitement after the post-launch dip. Without a clear airdrop window or new announcements, sentiment remains mixed—and fragile.

As of today, PUMP is trading well below its initial offering price, and unless something changes fast, investors may continue to exit in search of faster-moving plays.