Key Notes
- 60% of Pump.fun wallets are at a loss, with 1,700+ wallets losing over $100K.
- Trading bots are inflating Pump.fun volume, raising manipulation concerns.
- The PUMP token launch aims to raise $1B through a community-driven model.
As the Solana
SOL
$149.5
24h volatility:
5.0%
Market cap:
$78.37 B
Vol. 24h:
$3.70 B
token launchpad Pump.fun gears up for the upcoming PUMP token launch, on-chain data shows that around 60% of wallet addresses on the platform are currently operating at a loss, with over 1,700 wallets each down more than $100,000.
Data from DuneAnalytics shows that out of 4.257 million addresses that traded over 10 Pump.fun tokens in the past six months, approximately 2.4 million (56.6%) recorded cumulative losses ranging from $0 to $1,000.
Nearly 1,700 addresses faced losses exceeding $100,000, while 46 wallets reported losses of more than $1 million.
Pump.fun wallet addresses are losing – Source: Dune Analytics
On the other hand, only 5000 addresses managed to clock a profit over $100,000, with only about 311 wallets recording gains of over $1 million.
As per Dune Analytics data, the average profit range lies between $0 to $1,000, observed in 916,500 wallets, which account for 21.5% of all addresses. This shows a strong disparity in the distribution of wealth among the users of the Pump.fun platform. While retail players FOMO’ed, it was Pump.fun that profited the most.
Analyst Miles Deutscher highlighted the profit-and-loss (PnL) distribution in a chart shared on X (Twitter) in May 2025. The data revealed that 51.06% of wallets, equating to 166,590 addresses, reported losses exceeding $500, while only 0.0015% (just five wallets) registered profits between $50,000 and $100,000.
pUmP fUN Is GooD fOR CryptO pic.twitter.com/GfYPX05xpd
— Miles Deutscher (@milesdeutscher) June 5, 2025
Are trading bots dominating pump.fun?
Data also reveals that trading bots are artificially inflating volume on Pump.fun, which could lead to heightened risks of manipulation and exit liquidity concerns.
Similarly, a report referencing Solidus Labs research revealed that 98% of tokens on Pump.fun were flagged as scams or involved in fraudulent trading activity, with only 1.4% demonstrating genuine liquidity.
Despite widespread losses among users, Pump.fun has still managed to generate an impressive $300 million in fees so far in 2025, even surpassing Ethereum
ETH
$2 566
24h volatility:
3.4%
Market cap:
$309.93 B
Vol. 24h:
$17.64 B
in this regard.
Meanwhile, the platform is gearing up for the launch of its PUMP token, aiming to raise $1 billion through a community-driven model. This ambitious goal has sparked further debate about Pump.fun’s long-term vision and sustainability.
Analysts warn that the upcoming PUMP token launch could trigger selling pressure on Solana, driven by aggressive capital rotation. In a recent post on X, analyst Miles Deutscher pointed out that Solana may face short-term downside as investors shift their focus, and funds, toward the new token.
Some unfiltered thoughts/opinions on the Pump Fun token:
Pump itself:
– Launching too late imo, affects optics/sentiment as fees are now grinding to a halt
– They made $738m in fees.. If some of this isn’t distributed back to ecosystem incentives, idk what to say (feels like the…— Miles Deutscher (@milesdeutscher) June 4, 2025
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
