Over 300K Users Lose Money on Pumpfun’s Memecoin Platform

Pumpfun, a Solana-based platform launched in January 2024, allows users to create and trade memecoins. Despite its growing popularity and revenue generation, a significant portion of users have incurred substantial losses on the platform. According to a June 2025 report by Dune Analytics, over 60% (around 2.4 million out of 4.257 million addresses) of Pumpfun users saw losses over the past six months. This is reflected in the fact that 51.06% (approximately 166,590 wallets) lost more than $500. Only a tiny fraction – 0.0015% (5 wallets) – witnessed earnings between $50,000 and $100,000, while just 311 wallets saw gains exceeding $1 million.