Pump.fun Exposed: 58% of Users Lost Over $1K Amid Meme Coin Frenzy

Pump.fun, the meme coin launchpad built on the Solana blockchain, is now facing intense scrutiny after new data revealed major losses for the majority of its users. While the platform has made a handful of wallets extremely wealthy, most participants have walked away with significant financial setbacks.

Dune Analytics showed that out of all the wallets on Pump.fun, more than 58 percent had lost more than one thousand dollars, with 68 wallets having lost more than one million. On the contrary, however, a mere 28.3 percent of the wallets have registered realized gains, and only 516 wallets have exceeded the threshold of one million. Such a predictable imbalance has called into question the sustainability of this platform’s speed.

Pump.fun enables its users to initiate tokens within a few seconds, which has contributed to its popularity. The number of wallets created on the platform increased in January by 34,000 to almost 150,000 by the beginning of June. The overall income was $679 million, and the most successful tokens, such as $PNUT or $MOODENG, were quickly forgottentable due to their trading price decline.

As activity increases, income is falling drastically. DeFiLlama shows that revenue decreased by 66 percent in January-May. The wider meme coin market has also shrunk, with its highest point being $137 billion and now at $54 billion, which is an indication that people are losing zest and turning conservative.

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Legal and Market Pressures Intensify as Platform Faces Credibility Crisis

Pump.fun now faces legal pressure from Burwick Law, which filed a lawsuit accusing it of promoting unregistered securities and enabling suspicious financial flows. Baton Corporation, the parent company, has hired Brown Rudnick to handle the case. The legal team is known for defending prominent individuals in previous crypto controversies.

Industry critics argue that the platform encourages gambling behavior over genuine innovation. According to data presented by Solidus Labs, almost all tokens (approximately 99 percent) display the characteristic features of either pump-and-dump schemes or rug pulls. This has sparked criticisms over the role the platform plays in facilitating reckless financial gambling.

As rumors of a token sale of up to $1 billion and a potential 10 percent airdrop of a $PUMP fly, the risks behind it all are still there. As the losses are growing and the process of taking them to court is still ongoing, the future of Pump.fun is in question now.

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