Key Takeaways:
$PUMP token plunged 20%, now trading at $0.003, following delayed airdrop news.
Influencer Machi Big Brother holds the largest unrealized loss on Hyperliquid, exceeding $8 million.
Pump.fun shifts focus to creator rewards, sidelining retail traders and altering token dynamics.
The meme-driven $PUMP token has taken another hit, dropping 20% in value after co-founder Alon Cohen dashed hopes of an imminent airdrop. The announcement triggered a wave of sell-offs, leaving high-profile investors like Machi Big Brother deep in the red. With over $8 million in unrealized losses, the influencer’s leveraged long positions on Hyperliquid have become a cautionary tale in speculative crypto trading.
Airdrop Delays Spark Market Panic
The latest livestream from Pump.fun’s co-founder confirmed that no airdrop is planned “in the near future,” contradicting earlier hints and timelines. This reversal has shaken investor confidence, especially among retail traders who were banking on token distributions. The token’s price fell from $0.0038 to $0.003, erasing millions in market value and compounding losses for early backers. The delay marks a strategic shift, as Pump.fun now prioritizes fee-sharing with top creators over broad community incentives.
Machi Big Brother’s Risky Bet Backfires
Machi Big Brother, a well-known figure in crypto circles, opened multiple long positions on $PUMP using 5x leverage via Hyperliquid. As the token’s price spiraled downward, his unrealized losses ballooned to over $8 million. Despite the downturn, he continues to add to his position, attempting to avoid liquidation. His gamble highlights the dangers of overexposure to low-liquidity assets and the volatility of meme coins. With short positions dominating the market, PUMP’s recovery remains uncertain.
Pump.fun’s New Direction: Creator-Centric Rewards
In a bid to stabilize its ecosystem, Pump.fun has restructured its fee model to reward select creators and high-profile projects. This move distances the platform from its earlier “trenches” strategy, which relied on retail bets and grassroots token launches. While the platform still generates over $1.4 million in daily fees, the shift has alienated some community members and raised questions about long-term sustainability. The absence of retail-focused incentives could reshape the platform’s user base and market behavior.
