- Two wallets dumped 1.25 billion PUMP coins within two hours, resulting in a $1.19 million paper loss.
- The sell-off followed Pump.fun’s founder confirming delays to the anticipated airdrop.
- The token shows bearish signals as the community grows restless, falling about 4% in the past day.
Pump.fun’s meme token has struggled under heavy selling pressure from early investors, causing prices to drop significantly since the public sale on July 12.
PUMP has slid from its private sale price of $0.004 to roughly $0.002202 amid sustained sell orders, and the downward momentum continued today.
On-chain tracking from Lookonchain reveals two whale wallets, associated with early investors, sold 1.25 billion PUMP tokens over a two-hour window.
The combined sales were executed at about $0.00305 per token and amounted to approximately $3.81 million in turnover, producing an estimated $1.19 million loss for the sellers.
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
The unusually large and well-timed sales, combined with disappointing news about the airdrop, have amplified bearish sentiment among holders.
While early investors taking profits is common in crypto, the scale and timing of these moves raised alarm in the Pump.fun community and encouraged additional selling pressure.
Pump.fun founder confirms airdrop delay
Analysts had suggested the airdrop delay contributed to the sizable dumps, and Pump.fun’s founder confirmed that the giveaway will not happen immediately.
Founder Alon Cohen addressed the situation during an interview with Michael “ThreadGuy” Jerome, stating that the project remains committed to an airdrop but will postpone it to prioritize ecosystem development and long-term value.
🚨 NEW: Alon confirms the airdrop will not take place in the immediate future. pic.twitter.com/H3U6JhxJR7
— Crypto Briefing (@Crypto_Briefing) July 23, 2025
Alon emphasized the team’s preference for a well-executed, meaningful giveaway that rewards the community rather than rushing to meet hype-driven timelines.
We want to make sure that it is a meaningful airdrop and it is executed well. We’re actually focusing on bringing back a lot of that attention and hype to our ecosystem. That being said, the airdrop is not going to be taking place in the immediate future.
He added that specific details and timing will be shared when appropriate. Some community members accepted the explanation, but others saw the delay as a sign of internal uncertainty or waning momentum.
Private investors exit positions
On-chain observers tracked the selling addresses back to wallets that participated in early public or private sale rounds. Notably, the sellers accepted losses rather than waiting for a potential recovery.
Exiting at a loss suggests either a lack of confidence in PUMP’s near-term outlook or preemptive moves to avoid a future liquidity squeeze. Both interpretations have fed market anxiety.
PUMP price action and technicals
Pump.fun’s native token lost nearly 4% in the last 24 hours and is trading in the low fractions of a cent, around $0.002202 at the time of reporting.
Technical indicators point to continued downside risk. PUMP is trading below the key 50- and 100-period Exponential Moving Averages on the daily chart, signaling that sellers remain in control.
The daily Relative Strength Index (RSI) sits near 55, implying there is room for further declines before reaching oversold territory. Shorter-term momentum indicators, such as the 3-hour MACD, show weakening upward momentum after a bearish crossover on July 18.
Given the combination of on-chain selling from early holders, delayed airdrop news, and bearish technicals, PUMP appears vulnerable to further declines until clearer signs of buying support or positive fundamental developments emerge.