Pump.fun's PUMP token has fallen more than 63% since its ICO, driven by unmet expectations and market pressure. Despite generating significant revenue—over $775 million from deploying 12 million tokens—the coin's performance has disappointed investors. Following the announcement that a highly anticipated airdrop would not occur in the near future, panic selling ensued. The platform, which enables users to create meme coins, has seen a dramatic decline in daily active users and token launches. Current trading data indicates PUMP is at $0.0024, significantly below its ICO price. Technical indicators further suggest a continuation of the downtrend without any supportive price actions. Investors are skeptical, highlighting the token's lack of resilience and potential for further losses as selling pressure remains high.

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