Pump.fun's PUMP token has drastically lost over 63% of its value since its initial coin offering, which raised $600 million. Despite the overall market stability, PUMP's price continues to decline, now trading around $0.0024. The token's launch was hampered by broken promises, particularly regarding a delayed airdrop that frustrated investors. A recent class-action lawsuit has also intensified sell pressure amid claims Pump.fun operates an unlicensed casino scheme. Nearly 60% of presale buyers have sold their tokens, contributing to the significant drop in value. Technical analysis reveals a bearish trend with indicators signaling ongoing selling pressure. The Relative Strength Index is deeply oversold, while the Average Directional Index shows strong momentum in the downtrend. Without any bullish signals or notable recovery patterns, PUMP is expected to face further declines unless it can break above key resistance levels, which remain elusive as selling pressure continues unabated.

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