Pump.fun's PUMP token has experienced a drastic decline, dropping over 63% since its $600 million ICO. Despite strong revenue generation and the launchpad's success, investor confidence has waned substantially due to the lack of anticipated airdrops and news of ongoing legal troubles, including a $5.5 billion class-action lawsuit. Key metrics show daily active users have plummeted by 70%, further indicating declining interest in the platform. Current technical analysis reveals bearish trends, with the token trading at $0.0024, suggesting that sellers maintain control with no signs of recovery. The Relative Strength Index indicates extreme overselling, while resistance levels remain unbroken. Potential support is at $0.00200, but until PUMP breaks past $0.0027, the outlook remains grim, compounding fears of ongoing losses for investors.

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