Study Reveals Profit Discrepancies for Memecoins on Pump.fun

Research indicates that only 26% of the 752.5 million dollars in memecoin profits on Pump.fun follow standard trading patterns. The study analyzed over 3,000 positions with gains exceeding 100,000 dollars over a recent ten-month period.

The core issue lies in how profits are recorded. Half of the analyzed gains involved wallets that received tokens from other addresses rather than making direct market purchases. This mechanism prevents users of copy-trading platforms from replicating the same operations.

About 13% of transactions showed potentially coordinated trading patterns. Furthermore, 1,104 profitable positions were traced back to addresses associated with the token creators themselves. These movements distort the success rankings used by investors to identify skilled traders.

The sales volume of tokens received via transfer grew dramatically starting in July. By August, this type of operation accounted for seven out of every ten major gains in the monitored wallets. The practice creates an illusion of profitability that is not available to the average investor.

The lack of transparency in acquisitions makes leaderboard data unreliable for automated strategies. Investors who follow these wallets may encounter difficulties when trying to execute the same buy orders. The discrepancy between displayed profit and operational reality affects risk perception in highly volatile speculative assets.