99.6% of Pump.fun Traders Struggle to Exceed $10K in Profits: Data

YEREVAN (CoinChapter.com) —  Data from Dune reveals that 99.6% of Pump.fun traders have yet to achieve more than $10,000 in realized profits. Pump.fun, a decentralized platform for creating Solana-based memecoins, has over 13.55 million wallet addresses. Among these, only 55,296 wallets have exceeded the $10,000 profit mark.

Profits beyond $100,000 are even rarer. Only 0.048% of wallets, or approximately 6,504, have realized profits above this amount. High-profit traders are extremely limited, with just 293 wallets, or 0.00217%, surpassing $1 million in realized profits.

Dune analyst Adam Tehc explained on Jan. 10 in an X post that wallets reaching $10,000 in profit are part of the top 0.412% of all Pump.fun users. Realized profits, as defined by analysts, only count when traders sell their holdings.

Data May Underrepresent Profitable Pump.fun Wallets

Onchain analyst Alon highlighted data discrepancies and identified incomplete profit calculations. Alon informed their 79,700 X followers on January 10 that the figures exclude wallets profiting from coins purchased after bonding with Raydium.

“Buying coins after they have already bonded to Raydium is omitted when calculating profit and loss,”

Alon stated. This oversight means the number of profitable wallets could be higher than the data indicates.

Additionally, unrealized profits—cryptocurrency held but not yet sold—are not included in the analysis. Alon noted that some of the most profitable wallets belong to traders holding assets they acquired early in their lifecycle.

Despite the limited number of high-profit wallets, Pump.fun has generated nearly $400 million in revenue. According to Lookonchain, the platform has earned 2,016,391 SOL tokens as of January 2, equivalent to $398 million.

Reports also indicate that Pump.fun deposited over $300 million in SOL tokens to the Kraken exchange, converting $41 million into USD Coin. This revenue was achieved despite a drop in the overall memecoin market capitalization in December.

Liquidity Boosting Supports Memecoin Trading

Pump.fun operates by helping memecoins bootstrap liquidity. Afterward, these tokens are traded on decentralized exchanges like Raydium. This model has enabled the platform to maintain strong revenue while supporting memecoin trading activity.

While the data highlights the challenges traders face in securing significant profits, additional analysis suggests unrealized gains and overlooked transactions may mean more traders are seeing success than initially reported.

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