PUMP Price Crashes Amid Airdrop Delay As BTC Fights to Hold $117,000

The price of PUMP has nosedived after co-founder Alon Cohen revealed that the highly anticipated airdrop isn’t happening anytime soon. The announcement came during an interview with ThreadGuy and immediately triggered a wave of panic selling. The crash also comes amid broader market weakness, with Bitcoin hovering just above $117,000 and investors closely watching its next move.

Altcoins are losing steam: XRP is down 12%, Solana has dropped 8%, while Ethereum is holding up slightly better with a 3% dip.

Within hours of Alon’s statement, two early investor wallets offloaded a combined 1.25 billion PUMP tokens, worth around $3.81 million, at an average price of $0.00305. According to on-chain data, the whales exited with over $1.19 million in realized losses.

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

This strong sell-off wiped out short-term gains after PUMP had found a temporary floor near $0.0036 earlier in the week. The token is now down over 24% in the past 24 hours and nearly 56% from its ATH.

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Pump Crypto Faces Backlash as Airdrop Delay Erodes Community Trust

Community frustration has grown steadily as Pump.fun delays details of the airdrop promised during its record-breaking $600 million ICO. While Alon confirmed that an airdrop will happen, he stressed that the team is prioritizing long-term ecosystem development over immediate token rewards.

We want to make sure that it is a meaningful airdrop and it is executed well. That being said, the airdrop is not going to be taking place in the immediate future.”

But this decision is controversial. When you launch a token and promise an airdrop, it’s supposed to reward early supporters: the people who helped you build momentum. Delaying it indefinitely opens the door to airdrop farming and undermines trust. Waiting a year to reward loyal users defeats the whole purpose.

The decision to delay, paired with whale exits at a loss, suggests diminishing confidence in short-term price action.

Pump.fun, for now, remains a dominant force in Solana’s token ecosystem, having generated $774 million in revenue and launched over 12 million tokens. But unless the team restores community trust and delivers on its promises, PUMP may continue to face downside pressure, especially with newer competitors like LetsBonk gaining ground.

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