PUMP token lost $700M in market cap during a disastrous live interview where CEO @a1lon9 shot down airdrop rumors. The token fell 14% during the 45-minute chat with @notthreadguy, dropping from $0.0038 to $0.0033, then crashed another 8.5% for an 18% daily decline... 🧵

Cohen crushed community hopes by saying the rumored July 24 airdrop "is not going to be taking place in the immediate future." He also destroyed dreams of crypto streamer "Rasmr," who was rumored to receive millions of tokens from the anticipated airdrop.

The @pumpdotfun community's reaction was brutal. Some noted the interview lacked substance, others hinted that venture capital investors would be upset. One user joked that Threadguy wore all black clothing for "Pump Fun's funeral."

Cohen teased PumpSwap 2.0 and criticized rival Bonk Fun's "short-term tactics," but the platform faces major competition and fraud charges from @BurwickLaw. When asked about the token's poor performance, Cohen refused to comment on the price.

Instead, Cohen said he would boost sentiment by returning to the memecoin platform's roots and addressing the core community. Pump Fun made over $774 million as a catalyst for the memecoin trend, but the token has performed poorly ⤵️