PUMP, the token from Pump.fun, has seen a staggering decline of over 63% since its ICO, which raised $600 million. Despite a seemingly stable cryptocurrency market, PUMP's price has fallen drastically, now trading at roughly $0.0024. The token's performance woes are exacerbated by the co-founder's announcement that a much-anticipated airdrop is not coming soon, prompting significant selling pressure. Additionally, a class-action lawsuit claims the platform operates an unlicensed gambling operation, further unsettling investors. The zero-vesting model has backfired, leading nearly 60% of presale investors to sell their tokens. Competitor LetsBonk is gaining market share, contributing to PUMP's struggles. Technical analysis reveals an oversold RSI and a strong downtrend, indicating persistent selling pressure. Key support and resistance levels have been identified, with immediate support at $0.00239 and resistance at $0.0028. Without any bullish signals, the outlook for PUMP remains bleak.

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