Pump.fun Users Lose Big: 60% of Traders Suffer Losses Ahead of PUMP Launch

Over 60% of addresses lost money in Pump.fun trades, with 1,700 wallets down over $100,000.

Meanwhile, hype is building around its upcoming PUMP token launch, which is already putting pressure on Solana.

Over 60% of Addresses Lost Money in Pump.fun Transactions

A detailed analysis of Pump.fun trading data reveals a harsh reality behind the meme coin mania. According to data compiled on Dune Analytics, more than 60% of addresses engaging with the Solana-based token launchpad have incurred substantial losses.

Specifically, of 4.257 million addresses that traded more than 10 Pump.fun tokens in the past six months, around 2.4 million addresses (56.6%) posted cumulative losses between $0 and $1,000.

Meanwhile, nearly 1,700 addresses lost more than $100,000, and 46 wallets suffered losses exceeding $1 million.

Pump.fun losses statistics for traders over the past 6 months. Source: Dune Analytics

In contrast, only around 5,000 addresses turned a profit of over $100,000, and just about 311 wallets exceeded $1 million in gains.

The most common profit range, between $0 and $1,000, was seen in 916,500 wallets (21.5%).

Pump.fun profit statistics for traders over the past 6 months. Source: Dune Analytics

This suggests that most profitable participants still walked away with modest returns. These figures highlight the extreme wealth disparity in meme coin speculation on Pump.fun.

Full PnL chart of Pump.fun traders. Source: Dune dashboard

Analyst Miles Deutscher echoed the profit-and-loss (PnL) breakdown in a post on X (Twitter), showing a May 2025 PnL chart.

The data shows that 51.06% of wallets (166,590) lost more than $500, while only 0.0015% (five wallets) earned between $50,000 and $100,000.

With this, he issued a satirical remark that “Pump.fun is good for crypto.” This casts doubt on the platform’s net benefit to the crypto space.

Bot Activity, Skewed Profits, and the High Cost of Meme Coin Speculation

Pump.fun, launched as a user-friendly meme token launchpad on Solana, allows users to create tokens for under $2. However, recent reports indicated questionable practices.

BeInCryptorecently reported that trading bots are inflating volume on Pump.fun, possibly exacerbating manipulation and exit liquidity risks. The analysis cited suspicious patterns where certain bots consistently profit by frontrunning retail trades, raising transparency concerns.

In the same tone, another report, which cited Solidus Labs research, indicated that 98% of tokens on Pump.fun were flagged as scams or show fraudulent trading activity, with only 1.4% maintaining real liquidity.

Pump.fun’s upcoming PUMP token launch adds to the frenzy. The team plans to raise $1 billion via a community-driven token model, further intensifying debate about the platform’s long-term intentions.

“Pump.fun was the darling of the 2025 crypto bull run, but the memecoin frenzy has fizzled out now, so it may find demand for the token sale is much more lackluster than it is anticipating – not least because retail investors are still sitting on the sidelines, and pump.fun is a retail product first and foremost,” Alice Shikova, marketing lead at digital identity platform SPACE ID  told BeInCrypto.

While some see the PUMP token as legitimizing, analysts warn of a capital rotation risk for Solana, as speculators may divert funds from existing projects.

BeInCrypto reported that the anticipated token launch is already placing downward pressure on SOL, Solana’s native token, as traders rebalance portfolios in anticipation.

“[Pump.fun token] has some negative impact on SOL (at least in the short term), as there will be some rotation into PUMP – as many people used the SOL token as a proxy to get upside to the on-chain fee generation derived from Pump Fun,” Deutscher shared in a post.

Despite its easy-to-use platform and viral appeal, Pump.fun remains controversial. The UK banned the site in 2024 and faced a lawsuit in January 2025, adding regulatory uncertainty to an already volatile market.

In light of this, data challenges the narrative that Pump.fun democratizes finance, with 95.6% of wallets (312,191) having either broken even or lost money.

Alongside the platform’s dwindling revenues, the average user’s experience resembles more of a speculative trap than an on-ramp to wealth.

As the PUMP token launch approaches, traders may want to heed the numbers amid a meme coin sector where not everyone gets to ride the rocket.