Pumpfun, a solana-based platform launched in January 2024, allows users to create and trade memecoins. Even as the platform grows in popularity and earnings, a lot of users have reported losing large sums.
According to a June 2025 report, citing Dune Analytics, over 60% of PumpFun users (around 2.4 million out of 4.257 million addresses) lost money over the past six months, with 51.06% (166,590 wallets) losing more than $500. Only 0.0015% (5 wallets) earned between $50,000 and $100,000, and just 311 wallets exceeded $1 million in gains.
Though Pumpfun generates a lot of revenue, its users have still faced losses to a significant degree. For example fewer than 1 in 200 users got profits over $10,000, but 11% earned more than $100. Such a difference makes it look like memecoin trades on Pumpfun can be risky.
Since the graduation step involves tokens reaching a market cap of $69,000 and then being added to platforms like Raydium, this witnessed a large decline. In January 2025, Graduates Token’s graduates numbered almost $1,200 a day, which decreased to about 200 in February, a drop of about 80%. This shows that users do not trust the platform’s token ecosystem anymore.
Pumpfun is also connected to a number of scams and exploits. It is said that an employee using the platform swindled about $1.9 million by exploiting a bonding curve system.
Although PumpFun earns significant money, there are major financial risks that users of the platform deal with. A high number of token failures, lower graduation from schools and cases of associated scams prove that trading memecoins is not safe. Anyone who wishes to use PumpFun should understand the possible risks they might encounter.
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