DOGE, PEPE, PUMP Crash After Pump.fun Drops Bombshell: No Airdrop Coming Soon
Meme coins take a nosedive as Pump.fun dashes hopes of free money—because in crypto, 'immediate future' apparently means 'never.'
DOGE, PEPE, and PUMP holders woke up to a bloodbath after Pump.fun confirmed what skeptics already knew: the airdrop gravy train has left the station. The platform's vague 'no immediate plans' statement sent traders scrambling—proving once again that in this market, hype giveth and reality taketh away.
While the usual suspects (read: bagholders) cling to hopium about future distributions, smart money's already rotated into the next shiny thing. After all, why wait for scraps when you can FOMO into the next vaporware project?
Pump.fun's rocky month
Pump.fun’s initial coin offering raised $600 million in just 12 minutes, earlier this month, with its token launching a couple of days later. PUMP climbed to a $2.4 billion market cap over its first 24 hours, but it has since dropped by 55% since its launch.
Its decline has come as the token launchpad has lost market share to rival platform LetsBonk—led by the BONK meme coin community—which has dominated solana token creations for 16 of the last 17 days. By comparison, BONK is the only top 10 meme coin not in the red, jumping by 3.2% on the day according to CoinGecko.
Other major losers include Pump.fun-created tokens like GOAT, down 15.5%, Moo Deng, down 13.2%, and Peanut the Squirrel, down 12.8%. Fwog has also slipped almost 14% despite announcing that Pump.fun is an official “patron.”
In fact, only 12 of the top 100 meme coins by market cap are in the green. One of the biggest winners is REKT, which is up 21.7% over the past 24 hours. Billed as a brand coin with its ties to a drink company, REKT's upward MOVE follows the announcement of a collaboration with Binance.US, revealing an exclusive “liquid gold” flavor.
Myriad Market users now believe there is a 71% chance that Binance or Coinbase will like the token for perp or spot trading before September, a notable increase from just 40% on Saturday.
