Over 60% pump.fun traders saw losses, less than 0.01% made over $1m

Dune analytics showed over 60% of pump.fun traders experienced losses, while 311 wallets have earned over $1 million in the last six months.

According to recent data from the on-chain analytics platform Dune, more than 2.4 million wallets or around 56% of pump.fun traders have experienced losses amounting to at least $1,000 in the last six months. Meanwhile, only 311 wallets were able to make more than $1 million by investing in meme coins launched on the platform.

The large gap between profit and loss on the meme coin platform indicates that most traders on the meme coin site have a tendency to lose funds rather than gain them. Despite this fact, there have been a surge of new wallets hopping onto pump.fun in the last six months, jumping from only 34,000 new wallets joining at the beginning of January to nearly 150,000 a day on June 6.

According to data from Dune, around 221,827 wallets on the launchpad have experienced losses ranging from $1,000 to $10,000 in the past six months.

Not only that, nearly 30,000 wallets have reportedly seen their funds plummet between $10,000 to $100,000 within just six months of trading. The data also revealed that 46 wallets lost more than $1 million in on-chain funds on pump.fun.

When combined, the data shows that 62.5% of pump.fun traders have experienced losses when trading on the Solana (SOL)-based meme coin platform. While the majority of pump.fun traders experienced significant losses, a small cluster of traders were able to reap profits of up to $1 million in the last six months.

Pump.fun’s biggest gainers

The 311 wallets that made more than $1 million by trading on the platform does not even reach 0.01% of the entirety of pump.fun traders recorded on Dune analytics.

Additionally, only 4,705 wallets or 0.1% of traders made profits ranging from $100,000 to $1 million in the past six months. Meanwhile, around 1% of wallets were able to reap profits amounting from $10,000 up to $100,000, while another 4.5% received additional funds of around $1,000 to $10,000.

Unfortunately, the majority of meme coin holders who were able to gain profit from meme coin on the platform only received less than $1,000. The data reveals that only 21.5% of traders got at least $1,000 in profits or less from trading on the platform.

Overall, the total number of wallets that made a profit in the past six months on pump.fun reached 244,130 wallets. When compared to the grand total of more than 4.2 million wallets, the portion of wallets that gained a profit from pump.fun made up less than a third of that number or approximately 27.2%.

Although the market has grown to accommodate a variety of meme coin types, from PancakeSwap’s BNB (BNB)-backed tokens to SUI (SUI) meme coins, pump.fun remains the most popular choice for meme coin launchers by number of tokens alone.

Most recently, American rapper Cardi B was caught dumping a large portion of her meme coin WAP after promoting the token just a day prior. In just a few minutes, the market cap dropped from from $2.5 million to $139,000.