Pump.fun's PUMP token has plummeted over 63% since its ICO, reflecting poor market performance despite the project’s revenue generation of over $775 million. The project launched as a meme coin launchpad on Solana but has faced intense selling pressure following the co-founder's announcement that a previously expected airdrop would not occur soon. This disappointment exacerbated a lack of investor confidence, leading to significant sell-offs. Compounding the issue, a class-action lawsuit claims Pump.fun operates an unlicensed casino scheme, further damaging its credibility. Market activity has slowed dramatically, with daily users dropping by 70% and revenue figures declining. The technical analysis shows all indicators favoring a bearish trend, with the token currently trading around $0.0024, well below the issuance price. Immediate resistance remains up at $0.0028 with strong support near $0.0020. Without recovery signs, the outlook remains grim for PUMP holders, as relentless sell pressure continues to shape its downturn.

Source 🔗