This verse is part of Jeremiah’s declaration that God would bring down the Egyptians because of their idol worship, “No” refers to Thebes, the thriving capital of Upper Egypt that was clustered on both sides of the Nile River. The Hebrew word translated as “multitude” by the King James Version actually refers to the Egyptian god Amon, the chief deity of the city of Thebes.
Little is known about Amon, Some thing he was a personification of the sun. The Egyptians did practice sun worship, but the name of their sun god was Ra (read Genesis 12:15). One theory is that the qualities of Amon and Ra eventually merged into one supreme Egyptian sun god known as Amon-Ra.
JEREMIAH 46:25 – I [God] will punish the multitude of No [Amon god of Thebes, NIV], and Pharaoh, and Egypt, with their gods, and their kings.