Viral on-chain information reveals how few wallets profited meaningfully from the Solana meme coin craze, with practically half of Pump.enjoyable merchants struggling losses in March.
Based on the viral Dune Analytics dashboard compiled by pseudonymous analyst @oladee and shared on After monitoring round 1.4 million wallets buying and selling tokens issued by Pump.enjoyable, the info confirmed that between 49% and 50.6% of wallets misplaced cash, whereas many of the relaxation made do with small income. 500 {dollars}. In complete, about 96% of all wallets ended the month within the pink or with lower than $500 in income, highlighting how little upside most retail speculators truly captured from March’s memecoin frenzy.
Of the wallets tracked, income of 45.4% to 45.6% had been restricted to roughly $500, and solely roughly 4% of contributors earned income above that stage. Based on @oladee’s dashboard, solely two wallets made greater than $1 million in income throughout the month, whereas one other small cluster of addresses recorded six-figure losses, reinforcing the “lottery” side of Pump.enjoyable buying and selling. “Greater than 50% of Pump.enjoyable merchants ended this month with a loss…Whenever you mix wallets with losses and wallets with income of lower than $500, that quantity reaches roughly 96% of all contributors,” the info abstract states.
The backlash over the numbers has spurred recent criticism of Pump.enjoyable’s financial design, which shifts giant charges to token creators and the platform itself, although most merchants lose cash. To fight fraud, Pump.enjoyable introduced on March 24 that it’ll prohibit creators from altering costs, permitting just one post-launch redirection of a pricing circulate earlier than the settings are completely locked on-chain. Co-founder Aron Cohen mentioned in a publish on
The change in course comes after Pump.enjoyable emerged as considered one of Solana’s busiest venues, beforehand exceeding $2 billion in every day quantity throughout the meme token’s explosion in early 2026. Earlier this month, the platform expanded past pure meme cash, including in-app buying and selling of property corresponding to WBTC, USDC, and Ethereum through Wormhole, and rolling out a “Dealer Cashback” mannequin aimed toward returning extra price earnings to lively contributors. Nonetheless, with roughly 96% of March wallets shedding cash or incomes lower than $500, the most recent information thread serves as a extensively shared lesson on retail meme coin hypothesis at Pump.enjoyable and past.
In a earlier crypto.information article, Pump.enjoyable’s growth into broader asset buying and selling and price cashback was framed as an try and shift incentives to extra sustainable on-chain actions as memecoin volatility exams retail merchants’ danger urge for food.
Leave a Reply