PUMP, the token from Pump.fun, has plummeted over 63% since its ICO despite initial enthusiasm, primarily due to the absence of anticipated airdrops and a recent $5.5 billion lawsuit alleging illegal activities. Co-founder Alon Cohen's statement regarding the delay of airdrops led to significant sell pressure as investors sought to exit the market. Pump.fun, a Solana-based meme coin launchpad, has also seen a decline in daily active users and trading volume, allowing competitors like LetsBonk to capture market share. Currently trading at $0.0024, PUMP has been declared the worst performing token in the top 100, with technical indicators highlighting strong selling momentum. The ADX suggests continued downward pressure, while the RSI is deeply oversold. Despite minor upticks anticipated for day traders, significant resistance prevents a trend reversal. Critical support and resistance levels are outlined at $0.00239 and $0.00340, respectively, indicating bearish sentiment in the near term.

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