The PUMP token of Pump.fun has plunged over 63% since its ICO, trading at $0.0024 as of July 25, 2025. Despite a recent $600 million token sale, the token's market behavior contradicts its business success, leaving investors bewildered. A lack of promised airdrop and the emergence of a $5.5 billion class-action lawsuit have increased selling pressure. Following a livestream announcement by co-founder Alon Cohen that no airdrop would occur soon, the market reacted negatively. Almost 60% of presale participants have sold or transferred their tokens, compounding the downward trend. Competitor LetsBonk is gaining market share, drawing interest away from Pump.fun. Current technical analysis of PUMP indicates strong selling momentum, with the RSI suggesting extreme selling conditions. The token faces immediate support at $0.00239 and resistance at $0.0028, while a bearish alignment persists in its price averages, making significant recuperation unlikely in the short term.

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