The coin debuted at $0.004 in its initial coin offering (ICO), but it’s now trading at $0.003046. That leaves ICO participants staring at a 23.85% loss. Roughly 20% of that drop happened in just the past 24 hours as sellers piled in fast.
PUMP/USD via Coinbase on July 24.
At 11:15 a.m. Eastern on Thursday, PUMP is clinging to its $1 billion market cap, sitting at $1,076,498,920. Even though the current price is below its debut level, it briefly dipped even lower today to an intraday low of $0.00294.
X users haven’t missed a beat, with plenty weighing in on PUMP’s nosedive. “The crowd is grave dancing on PUMP,” one X account said. “Just like they did with PENGU. And we saw how that played out. If you’ve been here for a while, you know … These post-launch dump outs are commonplace.”
The individual added:
“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.”
Others saw things differently, offering up their own takes on the PUMP plunge. “Not gonna lie, can’t believe how wrong I was about PUMP,” another X account remarked. “Paid the price and one of my biggest L’s – kept longing on the way down thinking we would reverse.”
The X account continued:
“Honestly I had a good thesis for it. Just didn’t go as planned and I paid the price. Now we run it back.”
Speculators who chased the ICO’s initial momentum found themselves caught in volatile swings, and PUMP’s performance is a fresh reminder of how quickly sentiment can shift. Whether this drop signals a short-term correction or deeper unraveling going forward remains to be seen.
Investors may now question the staying power of hype-fueled projects without meaningful support beneath them. As attention shifts to the next trending token, PUMP’s trajectory could offer a cautionary tale—or a setup for a dramatic reversal fueled by renewed buzz.
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