Pump.fun Traders Experience Significant Turnaround in Profitability

A recent analysis of data from CoinGecko Research and Dune Analytics has revealed a significant turnaround in the profitability of Pump.fun traders. After nearly two years of consistent losses, 73.3% of participants are now profitable, up from a 30.1% low in June 2025.

The improvement is attributed to a natural selection process that flushed out inexperienced traders and left a more capable participant base. This process involved a significant reduction in the number of active wallets, from 5.2 million in May 2025 to just 1.8 million by December of the same year.

The memecoin market cap has also recovered +54.96% from its recent low of $25.12B, reaching a current level of $38.53B as of May 9, 2026. This recovery is consistent with early-stage altcoin recovery dynamics, where beaten-down speculative assets begin to catch bids as BTC dominance peaks and capital starts rotating.