“Unlocking the Secrets: Only 0.4% of Pump.fun Traders Profited Over $10K in Solana Meme Coins!”

At times, it seems that everyone is profiting endlessly in crypto, yet that’s not entirely accurate. Indeed, merely 0.4% of Pump.fun traders have gained $10,000 or more while trading on the meme coin platform.

Data analyst at Dune, Adam Tehc, discovered that only 55,012 wallets out of the more than 13.4 million on the platform have achieved profits of $10,000 or higher—that constitutes just 0.4% of all wallets. Regarding the legendary crypto millionaire, merely 294 wallets have earned profits exceeding $1 million, which is roughly 0.002% of wallets on the platform.

“Having 289 Pumpfun millionaires is quite low and illustrates the gap between expectations and reality,” Tehc conveyed to Decrypt.

This information excludes the acquisition of Pump.fun tokens after they graduate from the platform—currently achieved at a market cap of $100,000. However, it does encompass the sale of tokens after graduation, provided they were acquired previously.

“If they had genuinely experienced the platform or engaged with users, they’d understand that the majority of gains occur AFTER a coin [graduates],” stated pseudonymous Pump.fun co-founder Alon in a thread on X after this story was initially released, responding to discussions regarding the data. “It’s probable that the actual count of profitable and highly profitable wallets is significantly greater than what is displayed.”

Moreover, Tech concedes that the statistics may be somewhat skewed due to the prevalence of bot accounts on the platform. This includes “bump bots” that flood small transactions to draw attention to tokens. Alon further noted that around 30% of wallets that utilized Pump.fun executed a single order—a sell order—suggesting they are unlikely to be user-operated wallets. This could further distort the data.

While these figures may appear astonishing, five months ago, there were only 70 Pump.fun millionaires and 11,936 wallets gaining $10,000 or more.

“Relative to activity, volume, and fees, wallets profiting $1 million, $10,000, or $100,000 are accelerating at a higher pace,” Tehc elaborates. “This indicates a maturing environment. More capital is flowing to the leading players.”

Pump.fun is a token launchpad that has facilitated the creation of over 5.7 million meme coins. Since its launch in January 2024, the platform has generated over $392 million in revenue and has accounted for as much as 71% of tokens created on the Solana network.

It has fostered a culture of traders keen to engage in fierce competition within the trenches, aspiring to become Pump.fun millionaires.

Last year, some degens resorted to performing outrageous stunts on live streams to boost their tokens, hoping to earn a quick profit. This trend eventually escalated to incidents of animal abuse and a staged suicide on the platform, resulting in the shutdown of the livestreaming functionality.

Shortly after the cessation of live streaming, the UK regulatory body, the Financial Conduct Authority (FCA), issued a warning against the platform. This prompted Pump.fun to prohibit users from the UK.

Edited by Stacy Elliott

Editor’s note: This article was revised after publication to incorporate remarks from Pump.fun co-founder Alon.