Pump.fun traders, after an extended period of poor performance, are showing signs of a clear recovery in 2026, according to recent data from CoinGecko.
From April 2024 through late 2025, most traders closing positions on the popular Solana-based memecoin platform ended each month at a loss. During that stretch, the share of profitable wallets rarely exceeded 50% and dropped as low as 30.1% in June 2025, reflecting widespread underperformance among active participants.
Pump.fun Profitability Improves
That trend began to reverse in early 2026. In February, Pump.fun recorded nearly 57% of traders in profit, followed by a sharp rise to 70% in March and 73.3% in April 2026. In April, profits were concentrated largely at the lower end of the spectrum.
CoinGecko found that the largest group—about 2.05 million wallets, or 65.1%—realized gains between $1 and $500. Another 87,000 wallets, or 2.8%, earned between $500 and $1,000, while 169,000 wallets, representing 5.4%, booked gains above $1,000.
On the loss side, roughly 793,000 wallets, or about 25%, posted losses between $1 and $500. Some 22,000 wallets (0.7%) lost $500 to $1,000, and 24,000 wallets (0.8%) recorded losses exceeding $1,000. The analysis indicated that both gains and losses were predominantly small, reflecting the small-size, high-frequency nature of memecoin trading, where participants typically deploy modest amounts of capital.
The report also noted that improved profitability may be linked to a shakeout of weaker participants: monthly active wallets fell from a peak of 5.2 million in May 2025 to 1.8 million in December 2025. The rebound in early 2026 suggests a smaller, potentially more experienced trader base has returned to the platform.
“This decline can be seen as the exit of the broader retail crowd and subsequent recovery in wallet counts from early 2026 onward implies the return of a more selective, experienced trader base, naturally shifting the profitability distribution in their favour.”
Token Policy Change
Last week, Pump.fun announced it had burned all previously repurchased PUMP tokens and launched a new buyback-and-burn program funded by 50% of future net revenue. The project said the burned tokens were valued at roughly $370 million and represented 36% of the circulating supply.
The team acknowledged trust concerns around the longevity of its business, the certainty of future buybacks, and how repurchased tokens would be managed. According to Pump.fun, the policy change is intended to reduce uncertainty and prioritize a community-first approach moving forward.