Pump.fun's PUMP token has plummeted over 63% since its ICO, trading around $0.0024 as of late July 2025. Despite the crypto market showing stability, PUMP faces severe downward pressure following the announcement of no immediate airdrop, disappointing many investors. The token had debuted at a $4 billion valuation but now holds a market cap of $879 million. Almost 60% of presale holders have sold their tokens, exacerbating the decline. Negative sentiment is also fueled by a class-action lawsuit alleging unlicensed operations. Various technical indicators suggest a strong downtrend, with the Relative Strength Index at 28, signaling extreme selling pressure. The Average Directional Index indicates a robust downward trend, and multiple short-term averages show no bullish corrections. There are some signs of potential short-term trading opportunities, but overall, the outlook remains grim until PUMP breaks key resistance levels. Immediate support is identified at $0.00239, while strong resistance lies at $0.00340.

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