Judge Greenlights Broader Scope for Solana 'Pump.fun' Lawsuit Following Discovery of 5,000 Internal Messages
Expanded Complaint Approved: A federal judge has allowed plaintiffs in the Solana "Pump.fun" class-action lawsuit to file an expanded complaint after a whistleblower provided nearly 5,000 internal chat logs that clarify the alleged token-launch scheme's operations.
Allegations of Market Manipulation: The updated claims assert that Solana Labs and Jito Labs' tools enabled insiders to purchase tokens before the public, leading to artificially inflated prices for ordinary users, while insiders profited from a "rigged launch environment."
Court's Ruling on Amendments: Judge Colleen McMahon ruled that the plaintiffs acted promptly with the new evidence, and the amendments to the complaint align with existing legal claims without causing undue prejudice to the defendants.
Focus on Infrastructure Liability: The case now scrutinizes Solana's infrastructure, including validators and transaction-ordering mechanisms, which could set a precedent for how U.S. courts view the responsibility of blockchain infrastructure providers in market manipulation cases.
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Technical Analysis for PUMP
Technical Sentiment Analysis for Pump.fun (PUMP) As of , Pump.fun (PUMP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for PUMP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, PUMP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Pump.fun (PUMP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000447 | 0.00105 | 0.00166 | 0.00227 | 0.00287 | 0.00348 | 0.00408 |
| Fibonacci | 0.00105 | 0.00152 | 0.0018 | 0.00227 | 0.00273 | 0.00301 | 0.00348 |
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