PUMP Token Crashes 50% in Two Weeks as Airdrop Delay Triggers Massive Sell-Off

Sean Williams
pump.fun

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Key Takeaways:

  • PUMP token has dropped 50% in two weeks, slipping under $0.0030.
  • Airdrop delay confirmed by founder Alon Cohen has shaken investor confidence.
  • Private sale investors dumped $3.81M in PUMP tokens, while Machi Big Brother continues to hold and buy.

The native token of Solana-based launchpad Pump.fun, PUMP, has crashed over 20% in the past 24 hours, dipping below the $0.0030 mark. The sharp downturn follows remarks from founder Alon Cohen, who stated that a promised airdrop isn’t arriving anytime soon—sending investor confidence tumbling.

Airdrop Delay Sends Shockwaves Through Community

In a July 24 interview, Alon Cohen confirmed the PUMP airdrop would eventually take place—but emphasized it would not be “immediate.” Cohen stressed the team’s priority is delivering long-term value rather than rushing token distribution, stating:

“We’re going to keep our word… but the airdrop is not going to be taking place in the immediate future.”

This announcement sharply contrasts the initial hype that drove PUMP’s price from $0.004 during its ICO to $0.0067 shortly after launch. The token has since lost over 50% in two weeks, triggering widespread selling pressure.

Trading Volume Plummets as Sentiment Turns Bearish

Following today’s sell-off, daily trading volume fell 66% to under $1 billion, signaling a major shift in market sentiment. The combination of airdrop delays and fading momentum has prompted many short-term holders and private sale participants to exit their positions.

Blockchain analytics firm Lookonchain revealed that two wallets, likely linked to private sale investors, dumped 1.25 billion PUMP tokens—valued at nearly $3.81 million—at a loss of $1.19 million.

Machi Big Brother Bets Bigger Despite Massive Losses

Despite the downturn, crypto influencer Machi Big Brother continues to double down on his PUMP long positions. According to on-chain data, his current unrealized losses exceed $5.8 million, yet he has added to his position instead of cutting losses.

This bold move stands in stark contrast to the growing number of private wallets rapidly exiting their holdings—raising questions about long-term strategy versus short-term volatility in the project’s ecosystem.

The ongoing uncertainty surrounding PUMP’s airdrop and volatile price action has sparked panic among retail and early investors. While founder Alon Cohen assures that rewards are coming, the timeline remains unclear—leaving market sentiment in flux.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses

Also Read: Pump.fun (PUMP) Plunges: What’s Next for the Meme Coin?

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