{"id":8112,"date":"2025-01-13T15:41:35","date_gmt":"2025-01-13T15:41:35","guid":{"rendered":"https:\/\/icobench.com\/?p=8112"},"modified":"2025-01-14T03:28:01","modified_gmt":"2025-01-14T03:28:01","slug":"only-0-04-of-traders-make-money-with-pump-fun-meme-coins-is-this-bad-for-solana-sol","status":"publish","type":"post","link":"https:\/\/icobench.com\/news\/only-0-04-of-traders-make-money-with-pump-fun-meme-coins-is-this-bad-for-solana-sol\/","title":{"rendered":"Only 0.04% Of Traders Make Money with Pump.Fun Meme Coins \u2013 Is This Bad for Solana ($SOL)?"},"content":{"rendered":"
Analyst Adam Tech from the blockchain analytics platform Dune revealed this week that only 4 out of 100,000 wallets that actively invest in meme coins created with the Solana-based Pump.fun protocol have made over $10,000 in profits.<\/p>\n
With over 9,000 followers on his X account<\/a>, Tehc\u2019s comments lift the veil on the actual success that so-called \u2018degens\u2019 have had in the past few months as the meme coin space has grown to surpass a combined market cap of $100 billion at some point in December.<\/p>\n His conclusions were drafted based on an assessment of 13.82 million Pump.fun wallets. Of that total, only 56,330 traders reportedly generated a realized profit ranging from $10,000 to $99,999.<\/p>\n Meanwhile, Tehc\u2019s investigation also revealed that just 294 wallets have delivered gains of over $1 million to their owners. This debunks the myth that Pump.fun is making thousands of millionaires every day with fartcoins and random dog-themed tokens.<\/p>\n Not all analysts on X agree with the outcome of this analysis. The on-chain data analyst alon (a1lon9) noted that the sample does not include any tokens that these wallets bought after they were listed on major decentralized exchanges like Raydium were not included in the profit and loss calculation.<\/p>\n Despite this claim, these numbers are likely a good representation of the overall performance that active traders managed to get from pouring money into any of the thousands of tokens that are minted daily on Pump.fun.<\/p>\n The growing popularity of meme coins was an important driver for Solana\u2019s rally in 2024 as these assets attracted thousands \u2013 if not millions \u2013 of investors to its ecosystem amid the success of tokens like Bonk ($BONK) and dogwifhat ($WIF).<\/p>\n Data from CoinGecko shows that the aggregated value of Solana-based meme coins<\/a> stands at $14.5 billion but has been steadily dropping in the past 7 days with $BONK and $WIF losing 27.2% and 30.5% respectively during that period.<\/p>\n Meanwhile, the price of Solana has kept dropping sharply ever since bulls attempted a break above the descending price channel shown in the chart.<\/p>\n The decline seems to have found a floor in the 200-day simple moving average (SMA), which coincides with a critical horizontal support found at $175 per token.<\/p>\n A break below this level could mark the beginning of a major retreat for Solana ($SOL) in the next few weeks, possibly as the \u201cTrump rally\u201d has exhausted most of its ammunition.<\/p>\n Last week, a positive jobs report exacerbated analysts\u2019 concerns that the Federal Reserve could opt to delay its next interest rate cut as the economy is still performing positively after the third cut.<\/p>\n<\/p>\n
Solana Token Keeps Dropping Sharply After Bull Trap<\/span><\/h2>\n
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This Meme Coin Presale Could Do Much Better than Pump.Fun Tokens<\/span><\/h2>\n