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96% of traders on Pump.fun are losing money, based on data from Dune Analytics, showing the high risk of meme coin trading.
Author: Arushi Garg
Steady attention without excessive speculation.
26 March 2026: New data from Dune Analytics shows that 50.6% of Pump.fun traders lost money in March. A further 45.4% made less than $500, meaning about 96% of traders saw little to no meaningful profit. The Solana meme coin launchpad continues to concentrate gains among a small group of early buyers and bots.
High Signal Summary For A Quick Glance
CJ Fernandes
@CJFernandesUS
@saracrypto_eth At its core, the concept behind pumpfun was great for memecoin field. The unfortunate side effect was that it also became a scammers paradise. Lesson learned: memecoins are great, but they need real community behind them.
🚨THIS IS ABSOLUTELY WILD 96% of PumpFun users have lost money trading memes. If considering life-changing wealth, just 2 wallets have $1M+ PNL. Meanwhile, PumpFun team has cashed out $500M+ since 2024. THEY FCKING EXTRACTED EVERY PENNY AND KILLED ALTSEASON. https://t.co/D4x0MGST0E
01:04 PM·Mar 25, 2026
BOK
@Bok1Edge
@saracrypto_eth Wild, those 2 wallets are probably on payroll too.
🚨THIS IS ABSOLUTELY WILD 96% of PumpFun users have lost money trading memes. If considering life-changing wealth, just 2 wallets have $1M+ PNL. Meanwhile, PumpFun team has cashed out $500M+ since 2024. THEY FCKING EXTRACTED EVERY PENNY AND KILLED ALTSEASON. https://t.co/D4x0MGST0E
10:01 AM·Mar 25, 2026
Dippy.eth
@dippy_eth
@saracrypto_eth 96% loss doesn't mean lose trade, holding still counts as loss, unrealized PNL is still a loss
🚨THIS IS ABSOLUTELY WILD 96% of PumpFun users have lost money trading memes. If considering life-changing wealth, just 2 wallets have $1M+ PNL. Meanwhile, PumpFun team has cashed out $500M+ since 2024. THEY FCKING EXTRACTED EVERY PENNY AND KILLED ALTSEASON. https://t.co/D4x0MGST0E
09:45 AM·Mar 25, 2026
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Pump.fun started in January 2024 on Solana and quickly attracted traders on Pump.fun with its simple setup. It made it very easy for anyone to create and trade a meme coin for about $3. There was no presale and no team allocation, so it followed a fair launch model.
It quickly became very popular and played a big role in the 2024 to 2025 meme coin boom. The platform hosted millions of token launches, bringing in a huge number of Pump.fun traders. At its peak in 2024, Pump.fun accounted for a large share of new token launches on Solana, according to Dune Analytics. It also generated tens of millions in monthly trading fees, according to Dune Analytics and became a major source of activity on the network, driven largely by active traders on Pump.fun.
However, early data showed serious problems.On chain data from Dune Analytics shows that the vast majority of tokens never made it to Raydium. Very few tokens lasted more than a day.
Reports from Dune Analytics showed that most traders lost money, while a small group of insiders and fast traders made most of the profits. The platform’s design felt similar to a casino and attracted many retail users.
But overall, the data showed that most people were losing money, making it a losing game for the majority. A small group of top deployers and early participants extracted tens of millions in profits, according to on-chain data, reinforcing how value is concentrated among a few wallets.
Distribution of trader outcomes and value capture on Pump.fun
Pump.fun’s bonding curve creates rapid price surges in the first minutes after launch, allowing a small number of sniper bots and early buyers to capture the majority of gains. By the time most retail traders see and join the trade, prices have often already peaked and started to decline sharply.
Although the vast majority of traders lose money, the platform itself has proven extremely lucrative, consistently generating tens of millions in monthly fees. This dynamic reveals a structural reality where Pump.fun wins regardless of user outcomes.
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Pump.fun
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