Pump.fun's PUMP token has plummeted over 63% since its launch following a $600 million ICO. Despite market stability for other cryptocurrencies, PUMP continues to fall, trading at $0.0024. The co-founder announced no immediate airdrop, leading to increased panic among investors. Additionally, a $5.5 billion class-action lawsuit claims Pump.fun is running an unlicensed casino scheme, further intensifying sell pressure. A staggering 60% of initial presale participants have sold or transferred their tokens. As rival platform LetsBonk grows, Pump.fun faces declining activity and user interest. A comprehensive technical analysis suggests PUMP is significantly oversold but lacks signs of a reversal, with the price trending downward. Current immediate support is at $0.00239, while strong resistance is seen at $0.00340. The overall sentiment indicates a challenging future for PUMP as key indicators point to continued bearish momentum.

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