The PUMP Token is under fresh selling pressure, shedding 12% in a single day after its cofounder stated that the highly anticipated airdrop won’t be happening anytime soon.
PUMP Token Drops 12% Amid Airdrop Delay
PUMP price tumbled 12%, slipping below its initial ICO level after Pump.fun cofounder Alon Cohen revealed that while an airdrop remains on the roadmap, it won’t arrive soon.
The crash deepened a more prolonged decline for PUMP, which had already plunged over 50% from its post-ICO peak of $0.0067 reached just weeks ago. By Tuesday, the token had traded below its $0.004 ICO price and continued to fall after Cohen’s update.
On-chain data showed that large holders were rushing to cut their losses. According to Lookonchain, two wallets, likely tied to private sale investors, dumped 1.25 billion PUMP (worth around $3.8 million) at roughly $0.00305, resulting in a $1.19 million loss, according to Lookonchain.
2 wallets (likely private sale investors) sold 1.25B $PUMP($3.81M) at $0.00305 in the last 2 hours, losing $1.19M.https://t.co/5tx1g9vs6Lhttps://t.co/msm0ONmniu pic.twitter.com/glyBDgHfL8
— Lookonchain (@lookonchain) July 24, 2025
Airdrop “Not in the Near Future” Says Pump.fun Cofounder
PUMP holders’ fears were realized on Wednesday as Alon Cohen, in a live chat with Michael “ThreadGuy” Jerome, confirmed there are no immediate plans for an airdrop.
We want it to be meaningful and executed well,” Cohen explained, adding the team’s priority is to boost ecosystem growth and trading volumes first. “That being said, the airdrop is not going to be taking place in the immediate future, but we’ll communicate any timelines or details.
Pump.fun, launched in early 2024, became a sensation on Solana, allowing anyone to spin up memecoins in minutes. The platform quickly neared $1 billion in revenue, fueled by the meme coin boom.
Its public token sale sold out within minutes, and PUMP price briefly surged by 16% in premarket trading on Hyperliquid. However, the momentum proved short-lived, as the real utility failed to live up to the early hype.
Despite the downturn, Cohen insisted the airdrop is still planned, just delayed. The team hopes to “bring back attention and hype” organically rather than leaning on giveaways.
Market commentators say the absence of near-term airdrop hype is exposing PUMP’s vulnerability. Crypto enthusiast Shotgun noted that the token has hit a new all-time low of $0.00337. He warned that with airdrop farming no longer driving demand, the ecosystem must now prove it can sustain itself independently.
An early user claiming over $1 million in trading volume, criticized the team for “turning their back” on loyal supporters.
“You don’t build a platform with your community and then turn your back on them when it’s time to reward that support,” he said, comparing the move to OpenSea’s controversial decision to delay its airdrop.
For now, PUMP price remains under pressure, and the project’s future could depend on whether its ecosystem can build real demand beyond speculation.
Michael Adeleke
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
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