The Padre token slumped more than 76% as its price fell from above $0.076 to $0.011, with this coming after memecoin launchpad Pump.fun announced it had acquired the multichain trading terminal.

The sharp decline came amid the acquisition, and related to details to the effect that Pump.fun’s takeover will see the discontinuation of the PADRE token.

A panicked community looked to exit, and the market showed with the token cratering more than 76% from highs of $0.076 to lows of $0.011 at the time of writing.

Why Pump.fun acquired Padre

Pump.fun (PUMP) disclosed the acquisition on October 24, 2025, noting via X that Padre allows the Solana-based memecoin launchpad to expand its traction with one of the industry’s leading trading terminals.

The platform offers users a high-speed trading experience, and professional traders can tap into its solution across Solana, BNB Chain, Base, and Ethereum. Padre is set to unlock an advanced trading experience for users, the Pump.fun team said.

But while Padre will continue to function as usual, including providing access to trading on every launchpad and decentralized exchange across the supported chains, there’s one notable change.

And that’s what likely spooked token holders.

Pump.fun said the PADRE token “will no longer have utility on the platform.”

Furthermore, it indicated that there are “no further plans for the future.” No utility means worthless, and holders could be left hanging dry.

The community has not taken this move lightly, many condemning it on X as they drew comparisons with what would happen if a public company acquires another.

According to one crypto enthusiast, Pump.fun should have acquired the PADRE tokens or converted to the equivalent dollar value in PUMP tokens.