Nearly half of Pump.fun traders have incurred losses., 2026/03/31 13:46:15

According to Dune Analytics, which analyzed 1.4 million active addresses, 49% of wallets trading meme coins on the Solana blockchain via the Pump.fun platform experienced losses in March.

An additional 45% of traders made profits, although these did not exceed $500. Only about 4% of meme coin traders managed to earn more than $500 in a month. Dune analysts identified just two wallets whose owners recorded profits exceeding $1 million.

On March 24, Pump.fun announced a change in the commission structure for both coin creators and traders. Now, after the launch of a meme coin, it will only be possible to select the recipient of the commission—either the token developers or the sellers—once. Co-founder Alon Cohen explained on social media platform X that this update aims to combat manipulation: previously, creators could discreetly alter the commission recipients after the token gained popularity among traders.

At the beginning of the year, daily trading volumes on the platform surpassed $2 billion due to a resurgence of interest in meme coins.

Earlier in March, Pump.fun introduced trading in the app for assets such as wBTC, USDC, and Ethereum via Wormhole, and also launched the Trader Cashback model—a mechanism that directs a portion of commission revenues to active trading participants.

In January, commission revenues on the platform plummeted by over 71%. As a result, according to Dune Analytics, out of 58.7 million crypto wallets that interacted with Pump.fun, only 4.76 million earned between $1,000 and $10,000. Approximately 969,780 wallets made profits ranging from $10,000 to $100,000, while fewer than 13,700 wallets achieved millionaire status on the platform.