Pump.fun Co-Founder Says Reduced Community Engagement After Fundraising Was a Mistake
Summary
- A Pump.fun (PUMP) co-founder said it was a mistake to reduce communication with the community after fundraising.
- He said weak communication during the token price decline amplified investor anxiety and led to additional downward pressure.
- Tweedale added that the team's long-term development continued despite the decline in the token price, but it may have overlooked the importance of communication.
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Pump.fun co-founder Noah Tweedale said scaling back communication with the community after fundraising was a mistake.
Wu Blockchain reported on August 14 that Tweedale made the remarks in an interview with Crypto Insider. He said the team's reduced social-media engagement after the fundraising round was an error.
Tweedale said weak communication during the token's price slump fed a vicious cycle by intensifying investor anxiety.
If a token's price keeps falling, the market can easily begin to question whether a project's revenue is real, he said. Those doubts then put additional downward pressure on the price.
He added that the team did not stop its long-term development work during that period, but may have overlooked the importance of communication.
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