Why Won’t PUMP Stop Dumping? Bears Are in Complete Control: Analysis
Pump.fun's native token PUMP has dropped 63% from its ICO price, currently trading at $0.0024 with a market cap of $879 million. Despite the platform generating over $775 million in revenue, investor confidence has waned following the announcement that a planned airdrop would not occur soon. A $5.5 billion class-action lawsuit alleges Pump.fun operates an unlicensed casino scheme, further impacting sentiment. Nearly 60% of presale participants have sold or transferred their tokens, contributing to selling pressure. Competitor LetsBonk is gaining market share, while Pump.fun's daily active users and revenue have declined significantly. Technical indicators suggest a strong downtrend for PUMP, with no signs of stabilization or bullish momentum. The token's performance is the worst among the top 100 coins, and a break above $0.0027 is needed to indicate a potential trend reversal.
