In accordance with AMBCrypto, the memecoin launch platform Pump.fun [PUMP] faces an expanded class-action lawsuit involving the Solana Foundation, Jito Labs, and related executives. A whistleblower disclosed 5,000 internal chat messages, revealing accusations of insider trading and market manipulation. The lawsuit claims the platform caused $4 billion to $5.5 billion in retail investor losses. Since December 9, the PUMP token has dropped 39.3% to $0.00196, breaking the $0.0025 support level. Technical indicators like the CMF and MFI show bearish momentum, with key resistance levels at $0.00207 and $0.0023 expected to influence the next price move.
PUMP Token Falls 39.3% Amid Pump.fun Lawsuit and Legal Troubles
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Summary
Pump.fun [PUMP] faces a class-action lawsuit involving the Solana Foundation and Jito Labs, with a whistleblower leaking 5,000 internal chats. The case accuses the platform of insider trading and causing $4B–$5.5B in losses. Since December 9, PUMP has fallen 39.3% to $0.00196, breaking the $0.0025 support level. Fear and greed index readings remain bearish, with CMF and MFI indicators pointing to further declines. Key resistance levels at $0.00207 and $0.0023 could determine the next price direction.
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