Pump.fun's Solana Token Falls Below ICO Price as Hype Cools Ahead of PUMP Airdrop
Summary
Pump.fun's token, PUMP, has fallen below its initial coin offering (ICO) price of $0.004, currently valued at $0.003767, marking a 15% drop in 24 hours. The ICO raised $600 million in 12 minutes, but all buyers are now at a loss. The platform has generated $774 million in revenue over 18 months and created nearly 12 million tokens. After an initial surge to $0.006878, the token's value has decreased by 45%. Users are growing impatient for an announced airdrop, with co-founder Alon Cohen's cryptic posts fueling speculation. PUMP is now the 99th largest cryptocurrency, while competitor LetsBonk has dominated market share, with predictions indicating it may surpass PUMP's market cap of $1.3 billion by month-end.
