The PUMP token from Pump.fun has plummeted over 63% since its initial coin offering (ICO), triggered by a lack of expected airdrops and disappointing market performance. Despite generating $775 million in revenue, the token's current price is significantly below its ICO value, with growing sell pressure following the co-founder's announcement that an airdrop won't happen soon. Competition from rival LetsBonk is further exacerbating the situation, diverting user interest away from Pump.fun. Additionally, a class-action lawsuit alleging an unlicensed casino scheme has added to investor concerns. Current price indicators are predominantly bearish, suggesting deeper losses ahead for PUMP holders, with critical support at $0.00200 and resistance at $0.00340. Without clearer improvements or market confidence, the token remains under sustained pressure, signaling that a reversal is unlikely in the near term.

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