PUMP Token Plunges 23.85% Below ICO Price as Sellers Flee Post-Launch Slump

Pump.fun’s PUMP token, launched as a meme coin platform, has experienced a sharp decline in value, trading at $0.003046 as of 11:15 a.m. Eastern on Thursday—23.85% below its initial coin offering (ICO) price of $0.004 [1]. The token’s price dropped roughly 20% in the previous 24 hours, according to on-chain data, as sellers accelerated their exits following the rapid post-ICO slump. Despite the correction, PUMP maintains a market cap of approximately $1.076 billion, though it briefly dipped to an intraday low of $0.00294 earlier in the session [1].

Social media platforms have been flooded with reactions from investors and traders. “The crowd is grave dancing on PUMP,” one X user wrote, drawing comparisons to the failed PENGU token and highlighting the recurring pattern of “post-launch dump outs” in the meme coin space [1]. Another account shared a more cautious outlook, stating, “If you’ve been here for a while, you know … These post-launch dump outs are commonplace,” while acknowledging the speculative nature of the market [1]. Meanwhile, some traders expressed regret over their positions, with one user admitting, “Not gonna lie, can’t believe how wrong I was about PUMP. Paid the price and one of my biggest L’s—kept longing on the way down thinking we would reverse” [1].

The price volatility has reignited debates about the sustainability of hype-driven projects in the cryptocurrency market. PUMP’s performance underscores the fragility of tokens reliant on social media momentum rather than fundamental utility. Analysts note that while short-term corrections are common in speculative assets, prolonged underperformance may signal deeper issues in project viability [1]. The token’s current trajectory also reflects broader trends in the meme coin sector, where rapid price swings often follow the ebb and flow of retail investor sentiment [1].

Investors are now grappling with questions about the long-term potential of PUMP and similar tokens. “My long was stopped out at break even the other day, but I’ll keep accumulating spot. Airdrop or no airdrop PUMP will have its day,” one X user wrote, emphasizing a belief in potential rebounds driven by renewed hype [1]. However, skeptics argue that the lack of structural support—such as partnerships, governance models, or utility—makes such tokens vulnerable to sudden collapses [1].

The event serves as a cautionary tale for investors navigating the high-risk meme coin market. While PUMP’s market cap remains above $1 billion, the sharp decline highlights the importance of due diligence in projects lacking clear use cases or technical foundations. As attention shifts to the next trending token, the PUMP saga may either reinforce cautionary narratives or set the stage for a dramatic reversal if social media sentiment shifts again [1].

Source: [1] [title1PUMP Flops Hard: Pump.fun’s Token Crashes 23% Below ICO Price] [url1https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=pump-flops-hard-pump-funs-token-crashes-23-below-ico-price]