Almost all traders on the memecoin DEX platform Pump.fun failed to make a profit above $10, Dune data shows

Almost all traders on the memecoin DEX platform Pump.fun failed to make a profit above $10, according to the latest Dune data.

Only 55 out of 296 million addresses earned more than $13,55. This is about 10% of the service's traders. And only 000% or 0,048 addresses received a profit of more than $0,00217 million.

"If you made $10 trading Pump.fun tokens, you're in the top 000%," said Dune analyst Adam Tehk.

However, some experts questioned the accuracy of the Dune platform data, as it was calculated only after traders closed their positions. This was also pointed out by anonymous crypto analyst Alon. He stated that “buying coins after they are already linked to the Raydium decentralized exchange” was not taken into account when calculating profit and loss.

Thus, it is likely that the true number of profitable and extremely profitable wallets is an order of magnitude larger than what is shown in the report, he wrote.

Meanwhile, Pump.fun's total revenue is approaching $400 million, even as the total market cap of memecoins has declined in recent weeks. On January 2, analytics platform Lookonchain reported that the service had earned 2 token SOL, increasing its total revenue to nearly $398 million.