Pump.fun’s PUMP token has plummeted over 63% since its ICO, now trading at $0.0024, well below its initial price. Despite the broader crypto market showing bullish trends, PUMP struggles due to broken promises and declining user engagement. The co-founder announced no airdrop would be forthcoming, disappointing many investors and triggering sell-offs. Compounded by a $5.5 billion lawsuit alleging that the platform operates an unlicensed casino scheme, investor confidence continues to erode. Moreover, 60% of presale buyers have sold their tokens, adding to sell pressure. The charts reflect a bearish outlook: the RSI is at 28, indicating extreme selling, while the ADX shows a strong downtrend. With every technical indicator suggesting a lack of recovery, the path ahead appears bleak for PUMP holders, requiring significant resistance breaks to hint at any trend reversal.

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