Most Pump.fun traders fail to lock in over $10K in profits

Recent data from Dune Analytics indicates that nearly all traders on Pump.fun, a decentralised platform for Solana-based memecoins, have not realised profits exceeding $10,000. 

The analysis reveals that out of approximately 13.55 million total wallet addresses on Pump.fun, only about 55,296 have achieved profits above this threshold. 

This statistic suggests that a staggering 99.6% of traders have yet to see significant returns on their investments.

Onchain analyst Adam Tehc noted that realising a profit only occurs when traders close their positions by selling their crypto holdings. 

“If you’ve realized $10,000 trading Pump.fun’s tokens you’re a top 0.412% wallet,” he stated, highlighting the rarity of substantial profits among the user base.

The data also shows that larger profits are even less common, with only 0.048% of traders realising over $100,000 and just 0.00217% achieving profits exceeding $1 million, which translates to around 293 wallets.

Another analyst, known as Alon, argued that the Dune data does not fully capture the profitability landscape on Pump.fun. 

He pointed out that buying coins after they have bonded to Raydium is not accounted for in profit calculations. 

“Therefore, it’s likely that the true number of profitable and extremely profitable wallets is an order of magnitude LARGER than exhibited,” Alon remarked.

Additionally, he emphasised that unrealised profits—crypto holdings that are currently profitable but not yet sold—are not reflected in the data.

Despite the challenges in the memecoin market, Pump.fun has reported strong revenue figures nearing $400 million. 

As of January 2, Blockchain analytics platform Lookonchain noted that Pump.fun had earned over 2 million SOL tokens, contributing to its total revenue of nearly $398 million.

The platform has also deposited over $300 million in SOL tokens to Kraken and converted approximately $41 million into USD Coin.