In the cryptocurrency world, Pump.fun has made a significant impact with its millions of memecoins, becoming a frequently visited platform by investors. However, recent analyses reveal that 99.998% of this altcoin is financially unsuccessful. Pump.fun was introduced as a platform that enables the creation of memecoins with simple tools on the Solana Blockchain, but recent findings show that the promised concept of “democratized finance” does not reflect reality.
Success Rate Only 0.002%
Over 1.7 million memecoins have been created on Pump.fun so far, but only 41 of them have reached a market value of 1 million dollars in the long run. This brings the platform’s success rate for producing successful altcoins to an extremely low level of 0.002%.
Even worse, only 15 altcoins created on the platform have surpassed 10 million dollars. Such a low success rate reveals that the financial opportunities promised by the platform are actually utilized by only a very small segment. It is known that these prominent altcoins are mostly supported by wealthy celebrities and investors.
Users React
Statements made by the platform on its social media account have drawn significant backlash from users. Users expressed their reactions by stating that most of the memecoins created on Pump.fun are worthless and that the platform profited during this process.
One user summarized the situation by saying, “It’s no longer fun. 99% of us lost money, while you won anyway.” This disappointment has shaken not only the users but also the cryptocurrency world’s trust in this platform.
Pump.fun, with its user-friendly interface and low entry barriers, has allowed many people to create memecoins so far, but this has ultimately led to an abundance of low-quality memecoins in the market and a loss of popularity for memecoins. These altcoins, which rapidly lost value after a temporary popularity, became victims of speculative investments and momentary hype.
