PUMP, the token from Pump.fun, has seen a drastic decline of over 63% since its highly anticipated ICO. Following the $600 million token sale that sold out in 12 seconds, PUMP debuted at a $4 billion valuation but has dropped to approximately $0.0024, causing panic among investors. The situation worsened when co-founder Alon Cohen announced that an expected airdrop would not happen soon, intensifying the sell-off. Nearly 60% of presale participants have already liquidated their holdings, leading to further downward pressure. Competing platform LetsBonk has been gaining traction, affecting Pump.fun's market share. With trading indicators such as the RSI and ADX signaling a strong downtrend, the technical outlook for PUMP appears bleak. Key support levels are at $0.00239 and $0.00200, while resistance sits at $0.0028 and $0.00340. The PUMP token's active user base and revenue are also declining, indicating that the project may be in trouble.

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