I don't want to forgive my friend right now
Why don't you want to forgive him?
He's still joking about the insult he hurled at me. I refuse to forgive him or forget what he said so soon
I understand that you might still be upset about what your friend did to you, but you should not hold a grudge and it will be better to forgive him. Otherwise you will start resenting them very strongly and your friendship might be ruined. You should talk to them about what happened and clear the air.
I'll think about it. There will be time for that later.
Yeah, there's plenty of time to mull it over. Do you think your friend knows you were hurt by what he said, and how he keeps joking about it? Sometimes we don't realize how our actions impact others until it's brought to our attention.