Because pump crash founders over 50% after ICO say airdrops won’t come soon

    Crypto AI Updates04 mins


    Key takeout

    • The pump has dropped by more than 50% since before its sale as the Meme Coin Launchpad Airdrop Buzz is no longer steam.
    • Aron said the team will announce timeline and airdrop details when everything is confirmed.

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    Pump, the native token of Meme Coin Launchpad Pump.Fun, plummeted more than 50% within the two weeks prior to sale as Airdrop Hype faded.

    The token, which was initially sold for $0.004 during the ICO, surged to $0.0067 after the launch event, but quickly rose to $0.005 in the next few days. As of Tuesday, it was below the ICO price and continued to fall today after project chief Alon Cohen said airdrops wouldn’t come soon.

    “When it comes to airdrops, there’s airdrops, as we first promised when we first announced TGE. That’s not surprising to anyone. We’re following the words and our goal with that airdrop is to reward the community that helps us build a platform that has flourished for the past year or six months.”

    “We want to make sure it’s a meaningful airdrop and it’s running well,” Aron said the team is focusing on the long-term growth of the ecosystem.

    “We’re actually focusing on bringing a lot of that attention and hype back to our ecosystem. It’s said that airdrops won’t happen in the near future, but we’ll be giving those details the timeline or details available,” he said.

    Investor sentiment about pumps seems to be mixed. According to data tracked by Lookonchain, Jeffrey Huang, commonly known as the Machi Big Brother, added a long position in his pump despite exceeding $5.8 million amid a sharp decline in tokens.

    Meanwhile, wallets linked to private sales investors have sold over $1.2 billion in pumps for $0.003 over the past two hours, losing around $1 million.

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