Pump.fun’s PUMP token has fallen more than 63% since its ICO, causing significant investor concern. Despite Pump.fun’s success in generating substantial revenue and facilitating meme token launches on Solana, the declining token performance has left many puzzled. Co-founder Alon Cohen announced that a highly anticipated airdrop would not occur soon, prompting immediate sell-offs. Legal troubles have also emerged, with a lawsuit alleging unlicensed gambling activities associated with meme coin trading. Technical analysis suggests continued bearish momentum, with the PUMP token currently trading at $0.0024 and various indicators indicating no signs of recovery or bullish trends in the near term.
Value-packed daily reports covering news, markets, on-chain data, fundraising, governance, and more – sent to your inbox. Saving you 1 hour of research daily.
