Pump.fun Undergoes Fresh Legal Examination as Court Acknowledges New MEV Evidence
Court Decision on Pump.fun Lawsuit: A US federal court has allowed the amendment and refiling of a class-action lawsuit against Pump.fun, enabling the introduction of new evidence, including over 5,000 internal chat logs that may reveal coordination among key players in the Solana ecosystem regarding alleged unfair practices in memecoin launches.
Allegations of MEV Practices: The lawsuit claims that Pump.fun misrepresented its memecoin launches as "fair" while insiders exploited maximal extractable value (MEV) practices to gain early access to tokens, disadvantaging retail investors who became exit liquidity for better-positioned actors.
Implications for MEV Regulation: The case could set a precedent for how MEV practices are viewed legally, particularly concerning consumer-facing token launches, as US courts grapple with the classification and regulation of MEV activities in the crypto space.
Next Steps in Legal Proceedings: Following the acceptance of the amended complaint, defendants are expected to respond, and the court will decide whether the case will proceed to discovery or face motions to dismiss, keeping MEV practices under legal scrutiny.
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Technical Analysis for JTO
Technical Sentiment Analysis for Jito (JTO) As of , Jito (JTO) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for JTO 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, JTO 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 $-.
Jito (JTO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0686 | 0.14 | 0.207 | 0.278 | 0.344 | 0.416 | 0.482 |
| Fibonacci | 0.14 | 0.193 | 0.225 | 0.278 | 0.33 | 0.363 | 0.416 |
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